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. Shareholders 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 increased its dividend payment by an average of 5.5% annually over the last three years. Brookline Bancorp has a dividend payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. 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. The company has a market cap of $1.13 billion, a PE ratio of 15.31 and a beta of 0.76. Brookline Bancorp has a 52 week low of $8.01 and a 52 week high of $13.15. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.22. The firm’s 50-day simple moving average is $10.58 and its two-hundred day simple moving average is $9.65.

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

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods increased their price objective 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.

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.