Brookline Bancorp (NASDAQ:BRKL) Announces Quarterly Earnings Results

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

Brookline Bancorp Price Performance

BRKL stock traded up $0.32 during mid-day trading on Friday, hitting $10.86. The stock had a trading volume of 469,047 shares, compared to its average volume of 501,867. The firm has a fifty day simple moving average of $10.09 and a 200 day simple moving average of $9.39. The firm has a market capitalization of $965.40 million, a P/E ratio of 11.33 and a beta of 0.78. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19. Brookline Bancorp has a 52 week low of $7.93 and a 52 week high of $11.52.

Brookline Bancorp Dividend Announcement

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

Wall Street Analyst Weigh In

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