Brookline Bancorp (NASDAQ:BRKL) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Brookline Bancorp (NASDAQ:BRKL) released its quarterly earnings data on Wednesday. The bank reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03, Yahoo Finance reports. The business had revenue of $165.91 million for the quarter, compared to analyst estimates of $88.67 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period last year, the firm posted $0.26 earnings per share.

Brookline Bancorp Trading Up 3.0 %

Shares of BRKL stock traded up $0.32 during trading hours on Friday, hitting $10.86. 469,047 shares of the company’s stock traded hands, compared to its average volume of 501,867. The stock has a market cap of $965.40 million, a PE ratio of 11.33 and a beta of 0.78. The stock’s 50 day simple moving average is $10.09 and its 200 day simple moving average is $9.39. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.19. Brookline Bancorp has a 12 month low of $7.93 and a 12 month high of $11.52.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, November 15th. Brookline Bancorp’s payout ratio is 58.06%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods raised their price objective on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

About Brookline Bancorp

Brookline Bancorp, Inc operates as a bank holding company for the Brookline Bank that provide commercial, business, and retail banking services to corporate, municipal, and retail customers in the United States. Its deposit products include demand checking, NOW, money market, and savings accounts. The company’s loan portfolio primarily comprises first mortgage loans secured by commercial, multi-family, and residential real estate properties; loans to business entities comprising commercial lines of credit; loans to condominium associations; loans and leases used to finance equipment for small businesses; financing for construction and development projects; and home equity and other consumer loans.