Brookline Bancorp, Inc. (NASDAQ:BRKL) Declares $0.14 Quarterly Dividend

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Wednesday, October 23rd,Zacks Dividends reports. Investors of record on Friday, November 15th will be given a dividend of 0.135 per share by the bank on Friday, November 29th. This represents a $0.54 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, November 15th.

Brookline Bancorp has raised its dividend payment by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brookline Bancorp to earn $1.08 per share next year, which means the company should continue to be able to cover its $0.54 annual dividend with an expected future payout ratio of 50.0%.

Brookline Bancorp Price Performance

NASDAQ BRKL opened at $12.71 on Thursday. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The stock has a 50-day moving average of $10.58 and a 200 day moving average of $9.65. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 15.31 and a beta of 0.76. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. During the same period last year, the firm posted $0.26 earnings per share. On average, sell-side analysts forecast that Brookline Bancorp will post 0.82 EPS for the current year.

Analyst Upgrades and Downgrades

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

Brookline Bancorp Company Profile

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.