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

Brookline Bancorp, Inc. (NASDAQ:BRKL) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, May 10th will be given a dividend of 0.135 per share by the bank on Friday, May 24th. This represents a $0.54 annualized dividend and a dividend yield of 6.50%. The ex-dividend date of this dividend is Thursday, May 9th.

Brookline Bancorp has increased its dividend payment by an average of 5.5% per year over the last three years. Brookline Bancorp has a payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brookline Bancorp to earn $1.23 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 43.9%.

Brookline Bancorp Stock Down 1.3 %

NASDAQ BRKL traded down $0.11 during mid-day trading on Friday, reaching $8.31. The stock had a trading volume of 78,367 shares, compared to its average volume of 443,393. Brookline Bancorp has a 1 year low of $7.00 and a 1 year high of $11.52. The stock has a market cap of $744.99 million, a PE ratio of 9.05 and a beta of 0.75. The company has a fifty day moving average price of $9.55 and a 200 day moving average price of $9.78. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Brookline Bancorp had a net margin of 13.13% and a return on equity of 7.12%. The company had revenue of $160.35 million during the quarter, compared to analyst estimates of $89.38 million. During the same period in the previous year, the business earned $0.39 EPS. On average, research analysts expect that Brookline Bancorp will post 0.97 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BRKL. Piper Sandler restated an “overweight” rating and issued a $12.00 price objective on shares of Brookline Bancorp in a report on Wednesday, March 27th. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $11.38.

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.