In a recent transaction, Thomas J. Hollister, a director at Brookline Bancorp Inc. (NASDAQ:), purchased shares of the company worth $20,928. This buying activity was disclosed in a regulatory filing with the Securities and Exchange Commission.
The purchase, which took place on May 8, 2024, involved 2,400 shares of common stock at a price of $8.72 per share. Following this transaction, Hollister’s direct and indirect holdings in Brookline Bancorp have increased, demonstrating a continued commitment to the company’s future.
Notably, the disclosure also mentioned that Hollister’s total ownership includes shares of restricted stock granted under the Brookline Bancorp, Inc. 2021 Stock Option and Incentive Plan. This additional detail provides a fuller picture of his vested interest in the company.
Investors often monitor insider buying and selling as it can provide insights into the company’s performance and the confidence that executives and directors have in the business’s prospects. In the case of Hollister’s recent purchase, it may be seen as a positive signal by the market.
Brookline Bancorp Inc., headquartered in Boston, Massachusetts, is a federally chartered savings institution known for providing a range of financial services. The company’s performance and stock are tracked by investors interested in the financial sector, particularly those looking for insights into regional banking institutions.
The transaction was formally signed off by Marissa S. Martin, acting under the power of attorney for Thomas J. Hollister, and was filed on May 10, 2024.
InvestingPro Insights
Following the recent insider purchase by Thomas J. Hollister, a director at Brookline Bancorp Inc. (NASDAQ:BRKL), investors may find additional context in the company’s financial metrics and analyst trends. Brookline Bancorp’s commitment to shareholder returns is evident, with the company having raised its dividend for 6 consecutive years and maintaining dividend payments for 27 consecutive years, which is a testament to its stable financial position and dedication to returning value to shareholders.
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The company’s market capitalization currently stands at 783.16 million USD, with a Price/Earnings (P/E) ratio of 9.53. This valuation metric is slightly adjusted to a P/E ratio of 9.45 when considering the last twelve months as of Q1 2024. Despite concerns highlighted by analysts, who have revised their earnings expectations downwards for the upcoming period, Brookline Bancorp has demonstrated profitability over the last twelve months, which can be a reassuring sign for potential investors.
With a dividend yield of 6.12% as of the latest dividend ex-date on May 9, 2024, Brookline Bancorp stands out as a significant dividend payer. The company’s revenue growth has also been positive, with a 7.27% increase over the last twelve months as of Q1 2024. This financial performance may align with the confidence exhibited by Hollister’s recent stock purchase.
For those interested in a deeper dive into Brookline Bancorp’s financial health and future prospects, there are additional InvestingPro Tips available, including an analysis of the company’s gross profit margins and further earnings predictions by analysts. To access these insights and more, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro. In total, there are 7 additional InvestingPro Tips listed for Brookline Bancorp, which could provide investors with a more comprehensive understanding of the company’s financial landscape.
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