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:
- The stock is purchased by three or more insiders within one month.
- The stock is sold by no insiders in the month of intensive purchasing.
- 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.
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%|
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.
Insider buying / shares
Insider selling / shares
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.
Brookline Bancorp reported the full-year 2013 financial results on January 29 with the following highlights:
|Net interest income||$176.2 million|
$8.79 per share
|Tangible book value||$6.57 per share|
|Qtrly Rev Growth (yoy):||-0.05||-0.01|
|PEG (5 yr expected):||2.62||2.07|
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.
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.
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.