Brookline Bancorp: 4 Different Insiders Have Purchased Shares This Month

| About: Brookline Bancorp, (BRKL)

In this article, I will feature one bank that has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:

  1. The stock is purchased by three or more insiders within one month.
  2. The stock is sold by no insiders in the month of intensive purchasing.
  3. At least two purchasers increased their holdings by more than 10%.

Brookline Bancorp (NASDAQ:BRKL) operates as the holding company for Brookline Bank, Bank Rhode Island, and First Ipswich Bank that provide commercial, business, and retail banking services to the corporate, municipal, and individual customers.

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Insider buying during the last 30 days

Here is a table of Brookline Bancorp's insider-trading activity during the last 30 days by insider.

Name Title Trade Date Shares Purchased Current Ownership Increase In Shares
Bogdan Nowak Director Feb 12-13 11,003 81,955 shares +15.5%
Thomas Meshako Principal Financial Officer Feb 10 1,000 11,000 shares +10.0%
Paul Perrault CEO Feb 5 1,000 211,416 shares +0.5%
Robert Rose CCO Feb 3 2,100 36,717 shares +6.1%
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There have been 15,103 shares purchased by insiders during the last 30 days.

Insider buying by calendar month

Here is a table of Brookline Bancorp's insider-trading activity by calendar month.

Month

Insider buying / shares

Insider selling / shares

February 2014 15,103 0
January 2014 0 0
December 2013 0 0
November 2013 0 0
October 2013 2,775 0
September 2013 0 0
August 2013 0 0
July 2013 0 0
June 2013 0 0

May 2013

8,300

17,000

April 2013

10,000

0

March 2013

0

0

February 2013

0

0

January 2013

0

0

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There have been 36,178 shares purchased, and there have been 17,000 shares sold by insiders since January 2013. The month of February 2014 has seen the most insider buying.

Financials

Brookline Bancorp reported the full-year 2013 financial results on January 29 with the following highlights:

Net interest income $176.2 million

Net income

$35.4 million

Book value

$8.79 per share

Tangible book value $6.57 per share
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Competition

Brookline Bancorp's competitors include Westfield Financial (NASDAQ:WFD). Here is a table comparing these two companies.

Company BRKL WFD
Market Cap: 618.16M 145.92M
Qtrly Rev Growth (yoy): -0.05 -0.01
Revenue: 179.11M 35.27M
Operating Margin: 0.36 0.26
Net Income: 35.39M 6.76M
EPS: 0.51 0.34
P/E: 17.46 22.41
PEG (5 yr expected): 2.62 2.07
P/S: 3.44 4.09
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Brookline Bancorp is trading at a lower P/S ratio than its direct competitor. In Westfield Financial, there have been 29,634 shares purchased, and there have been 65,028 shares sold by insiders during the last six months. Only Brookline Bancorp has seen intensive insider buying during the last 30 days.

Conclusion

There have been four different insiders buying Brookline Bancorp, and there have not been any insiders selling Brookline Bancorp during the last 30 days. Two of these four insiders increased their holdings by more than 10%. Brookline Bancorp has an insider ownership of 0.40%.

Brookline Bancorp has a book value of $8.79 per share, which could be a good entry point for the stock based on the intensive insider buying.

BRKL Book Value (Per Share) Chart

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in BRKL over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.