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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced 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 dividend on an annualized basis and a dividend yield of 6.50%. The ex-dividend date is Thursday, May 9th.

Brookline Bancorp has raised its dividend by an average of 5.5% annually over the last three years. Brookline Bancorp has a payout ratio of 46.2% indicating that 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 Performance

Shares of BRKL traded down $0.11 during midday trading on Friday, reaching $8.31. 78,367 shares of the stock were exchanged, compared to its average volume of 443,393. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15. The company has a market cap of $744.99 million, a P/E ratio of 9.05 and a beta of 0.75. The stock’s 50 day simple moving average is $9.55 and its 200 day simple moving average is $9.78.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on BRKL. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Piper Sandler reissued an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.