It Seems Brookline Bancorp, Inc. (BRKL) Will Go Up. Formed A Few Months Wedge Up Pattern

February 15, 2018 - By Nellie Frank

Investors sentiment decreased to 1.3 in 2017 Q3. Its down 0.09, from 1.39 in 2017Q2. It is negative, as 12 investors sold Brookline Bancorp, Inc. shares while 48 reduced holdings. 23 funds opened positions while 55 raised stakes. 57.96 million shares or 0.37% less from 58.17 million shares in 2017Q2 were reported.
983,614 are held by Ameriprise Fin. Voya Invest Management Ltd Liability Corporation accumulated 32,942 shares. Engineers Gate Manager Limited Partnership reported 0.04% stake. Comerica Bankshares has 0.02% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL). Adirondack Rech Mgmt accumulated 238,506 shares. Citadel Advsr Lc reported 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Us National Bank De holds 5,479 shares. Legal General Gp Public Limited Co stated it has 0% of its portfolio in Brookline Bancorp, Inc. (NASDAQ:BRKL). Moreover, Pnc Financial Svcs Group has 0% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL). Laurion Cap Mngmt Limited Partnership holds 0% or 39,900 shares in its portfolio. Price T Rowe Associate Md invested in 42,398 shares. Ubs Asset Mngmt Americas invested in 0% or 58,733 shares. Prudential Fincl has 0.01% invested in Brookline Bancorp, Inc. (NASDAQ:BRKL) for 360,183 shares. Hennessy Incorporated owns 620,000 shares or 0.3% of their US portfolio. California Public Employees Retirement System has 354,797 shares.

Since February 5, 2018, it had 0 buys, and 2 insider sales for $290,750 activity. The insider HACKETT JOHN A sold $81,250.

The stock of Brookline Bancorp, Inc. (BRKL) formed an up wedge with $17.82 target or 9.00 % above today’s $16.35 share price. The 6 months wedge indicates low risk for the $1.25B company. If the $17.82 price target is reached, the company will be worth $112.77 million more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.06% or $0.01 during the last trading session, reaching $16.35. About 114,340 shares traded. Brookline Bancorp, Inc. (NASDAQ:BRKL) has risen 26.02% since February 15, 2017 and is uptrending. It has outperformed by 9.32% the S&P500.

Brookline Bancorp, Inc. (NASDAQ:BRKL) Ratings Coverage

Among 4 analysts covering Brookline Bancorp (NASDAQ:BRKL), 0 have Buy rating, 0 Sell and 4 Hold. Therefore 0 are positive. Brookline Bancorp had 16 analyst reports since September 3, 2015 according to SRatingsIntel. The rating was upgraded by Sandler O’Neill on Monday, August 21 to “Buy”. Keefe Bruyette & Woods maintained Brookline Bancorp, Inc. (NASDAQ:BRKL) on Thursday, June 1 with “Hold” rating. The company was maintained on Monday, October 23 by Piper Jaffray. The company was maintained on Friday, October 13 by Keefe Bruyette & Woods. Piper Jaffray maintained the stock with “Hold” rating in Thursday, July 13 report. Compass Point downgraded the shares of BRKL in report on Friday, November 18 to “Neutral” rating. As per Thursday, September 3, the company rating was upgraded by Sandler O’Neill. The firm has “Hold” rating given on Thursday, September 21 by Piper Jaffray. The firm earned “Hold” rating on Thursday, October 19 by Sandler O’Neill. Keefe Bruyette & Woods maintained the stock with “Hold” rating in Thursday, October 19 report.

More notable recent Brookline Bancorp, Inc. (NASDAQ:BRKL) news were published by: Globenewswire.com which released: “Brookline Bancorp, Inc. Announces Third Quarter 2017 Earnings Release Date and …” on September 27, 2017, also Nasdaq.com with their article: “Brookline Bancorp, Inc. (BRKL) Ex-Dividend Date Scheduled for February 15, 2018” published on February 14, 2018, Nasdaq.com published: “Brookline Bancorp Inc. Reveals Decline In Q4 Earnings” on January 31, 2018. More interesting news about Brookline Bancorp, Inc. (NASDAQ:BRKL) were released by: Streetinsider.com and their article: “Form SC 13G BROOKLINE BANCORP INC Filed by: FULLER & THALER ASSET MANAGEMENT, INC.” published on February 15, 2018 as well as Nasdaq.com‘s news article titled: “Ex-Dividend Reminder: Ameriprise Financial, Brookline Bancorp and GEO Group” with publication date: February 13, 2018.

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