Loading...
Docoh

Brookline Bancorp (BRKL)

Brookline Bancorp, Inc., a bank holding company with approximately $8.9 billion in assets and branch locations in eastern Massachusetts and Rhode Island, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank and Bank Rhode Island. The Company provides commercial and retail banking services and cash management and investment services to customers throughout Central New England.

BRKL stock data

Calendar

8 Aug 22
20 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 90.33M 90.33M 90.33M 90.33M 90.33M 90.33M
Cash burn (monthly) 67.65M 19.18M (no burn) (no burn) (no burn) (no burn)
Cash used (since last report) 113.95M 32.3M n/a n/a n/a n/a
Cash remaining -23.62M 58.03M n/a n/a n/a n/a
Runway (months of cash) -0.3 3.0 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
17 Aug 22 M Robert Rose Common Stock Gift Acquire G Yes No 0 8,576 0 48,544
17 Aug 22 M Robert Rose Common Stock Gift Dispose G No No 0 8,576 0 39,343
17 Aug 22 Doyle John J Jr Common Stock Gift Acquire G Yes No 0 3,000 0 40,600
17 Aug 22 Doyle John J Jr Common Stock Gift Dispose G No No 0 3,000 0 3,986
2 Aug 22 Joanne B. Chang Common Stock Grant Acquire A No No 0 3,986 0 13,086
2 Aug 22 David C Chapin Common Stock Grant Acquire A No No 0 3,986 0 112,042
2 Aug 22 Doyle John J Jr Common Stock Grant Acquire A No No 0 3,986 0 6,986
80.9% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 187 198 -5.6%
Opened positions 17 19 -10.5%
Closed positions 28 20 +40.0%
Increased positions 68 75 -9.3%
Reduced positions 63 59 +6.8%
13F shares Current Prev Q Change
Total value 826.27M 993.44M -16.8%
Total shares 62.07M 62.79M -1.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
BLK Blackrock 11.5M $153.01M +0.3%
Vanguard 8.71M $115.96M +1.1%
Dimensional Fund Advisors 5.04M $67.12M +2.2%
Fuller & Thaler Asset Management 3.75M $49.94M -7.7%
STT State Street 3.3M $43.99M -2.5%
Massachusetts Financial Services 3.12M $41.57M +2.0%
GS Goldman Sachs 1.94M $25.85M -21.4%
Jennison Associates 1.78M $23.68M +6.5%
Geode Capital Management 1.37M $18.27M +0.1%
Polaris Capital Management 1.19M $15.89M -0.8%
Largest transactions Shares Bought/sold Change
Millennium Management 746.72K -583.47K -43.9%
GS Goldman Sachs 1.94M -530.06K -21.4%
Fuller & Thaler Asset Management 3.75M -312.71K -7.7%
Robeco Institutional Asset Management B.V. 228.57K +228.57K NEW
LGEN Legal & General 0 -224.9K EXIT
Two Sigma Advisers 232.3K +208K +856.0%
MS Morgan Stanley 1.09M +178.3K +19.6%
Parametric Portfolio Associates 0 -176.09K EXIT
Maltese Capital Management 0 -175K EXIT
Victory Capital Management 199.54K +153.28K +331.3%

Financial report summary

?
Risks
  • The COVID-19 pandemic, and the measures taken to control its spread, will continue to adversely impact our employees, customers, business operations and financial results, and the ultimate impact will depend on future developments, which are highly uncertain and cannot be predicted.
  • Our business may be adversely affected by changes in economic and market conditions.
  • Changes to interest rates could adversely affect our results of operations and financial condition.
  • We face significant and increasing competition in the financial services industry.
  • Our business may be adversely affected if we fail to adapt our products and services to evolving industry standards and consumer preferences.
  • Development of new products and services may impose additional costs on us and may expose us to increased operational risk.
  • If our allowance for credit losses is not sufficient to cover actual loan and lease losses, our earnings may decrease.
  • Environmental liability associated with our lending activities could result in losses.
  • Our securities portfolio performance in difficult market conditions could have adverse effects on our results of operations.
  • The fair value of our investment securities can fluctuate due to factors outside of our control.
  • Potential downgrades of U.S. government securities by one or more of the credit ratings agencies could have a material adverse effect on our operations, earnings and financial condition.
  • Uncertainty about the future of LIBOR may adversely affect our business.
  • We are subject to liquidity risk, which could negatively affect our funding levels.
  • Loss of deposits or a change in deposit mix could increase our cost of funding.
  • Wholesale funding sources may prove insufficient to replace deposits at maturity and support our operations and future growth.
  • Potential deterioration in the performance or financial position of the FHLBB might restrict our funding needs and may adversely impact our financial condition and results of operations.
  • The soundness of other financial institutions could adversely affect us.
  • Damage to our reputation could significantly harm our business, including our competitive position and business prospects.
  • We may be unable to attract and retain qualified key employees, which could adversely affect our business prospects, including our competitive position and results of operations.
  • Our ability to service our debt and pay dividends is dependent on capital distributions from our subsidiary banks, and these distributions are subject to regulatory limits and other restrictions.
  • We face continuing and growing security risks to our information base, including the information we maintain relating to our customers.
  • We may not be able to successfully implement future information technology system enhancements, which could adversely affect our business operations and profitability.
  • We rely on other companies to provide key components of our business infrastructure.
  • We may incur significant losses as a result of ineffective risk management processes and strategies.
  • Our internal controls, procedures and policies may fail or be circumvented.
  • Natural disasters, acts of terrorism, pandemics and other external events could harm our business.
  • Our financial statements are based in part on assumptions and estimates, which, if wrong, could cause unexpected losses in the future.
  • Changes in accounting standards can be difficult to predict and can materially impact how we record and report our financial condition and results of operations.
  • Changes in tax laws and regulations and differences in interpretation of tax laws and regulations may adversely impact our financial statements.
  • Future capital offerings may adversely affect the market price of our common stock.
  • The market price and trading volume of our common stock may be volatile.
  • Anti-takeover provisions could negatively impact our stockholders.
  • If we acquire or seek to acquire other companies, our business may be negatively impacted by certain risks inherent with such acquisitions.
  • We may be required to write down goodwill and other acquisition-related identifiable intangible assets.
  • We operate in a highly regulated industry, and laws and regulations, or changes in them, could limit or restrict our activities and could have a material adverse effect on our operations.
  • We are subject to numerous laws designed to protect consumers, including the Community Reinvestment Act and fair lending laws, and failure to comply with these laws could lead to a wide variety of sanctions.
  • We may become subject to enforcements actions even though noncompliance was inadvertent or unintentional.
  • We face significant legal risks, both from regulatory investigations and proceedings and from private actions brought against us.
  • The Federal Reserve may require us to commit capital resources to support the Banks.
  • We are subject to stringent capital requirements which may adversely impact return on equity, require additional capital raises, or limit the ability to pay dividends or repurchase shares.
Management Discussion
  • Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
  • Certain statements contained in this Quarterly Report on Form 10-Q that are not historical facts may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties. These statements, which are based on certain assumptions and describe Brookline Bancorp, Inc.’s (the “Company’s”) future plans, strategies and expectations, can generally be identified by the use of the words “may,” “will,” “should,” “could,” “would,” “plan,” “potential,” “estimate,” “project,” “believe,” “intend,” “anticipate,” “expect,” “target” and similar expressions. These statements include, among others, statements regarding the Company’s intent, belief or expectations with respect to economic conditions, trends affecting the Company’s financial condition or results of operations, and the Company’s exposure to market, liquidity, interest-rate and credit risk.
  • Forward-looking statements are based on the current assumptions underlying the statements and other information with respect to the beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions of management and the financial condition, results of operations, future performance and business are only expectations of future results. Although the Company believes that the expectations reflected in the Company’s forward-looking statements are reasonable, the Company’s actual results could differ materially from those projected in the forward-looking statements as a result of, among other factors, ongoing disruptions due to the COVID-19 pandemic and measures taken to contain its spread on our employees, customers, business operations, credit quality, financial position, liquidity and results of operations; the Company and PCSB’s ability to achieve the synergies and value creation contemplated by the proposed acquisition; the Company and PCSB’s ability to successfully integrate operations in the proposed acquisition; the effect of the announcement of the proposed acquisition on the ability of PCSB to maintain relationships with its key partners, customers and employees, and on its operating business generally; ongoing turbulence in the capital and debt markets; changes in interest rates; competitive pressures from other financial institutions; general economic conditions (including inflation) on a national basis or in the local markets in which the Company operates; changes in consumer behavior due to changing political, business and economic conditions, including concerns about inflation, or legislative or regulatory initiatives; changes in the value of securities and other assets in the Company’s investment portfolio; increases in loan and lease default and charge-off rates; the adequacy of allowances for loan and lease losses; decreases in deposit levels that necessitate increases in borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity incidents, fraud, natural disasters and future pandemics; changes in regulation, war, terrorism, civil unrest; due to changes in economic assumptions and adverse economic developments; the risk that goodwill and intangibles recorded in the Company’s financial statements will become impaired; and changes in assumptions used in making such forward-looking statements; and the other risks and uncertainties detailed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 and other filings submitted to the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made. The Company does not undertake any obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statements are made.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: connection, consummation, contemplated, creation, customary, diverse, diversion, encountered, fail, fulfilled, half, holder, interruption, merge, merged, merger, momentum, payroll, PCSB, personnel, prohibiting, proposed, proxy, registration, SC, stockholder, successfully, surviving, waived
Removed: cliff, deferment, deferral, emergency, meaningful, payoff, schedule, treated