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. Stockholders 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 dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, November 15th.

Brookline Bancorp has increased its dividend payment by an average of 5.5% annually over the last three years. Brookline Bancorp has a payout ratio of 50.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.1 %

Shares of Brookline Bancorp stock opened at $12.77 on Wednesday. The firm’s 50 day moving average price is $10.53 and its 200-day moving average price is $9.63. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $12.94. The company has a market cap of $1.14 billion, a P/E ratio of 15.39 and a beta of 0.76.

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

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their target price on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research 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.