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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Wednesday, July 24th, Zacks reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.135 per share by the bank on Friday, August 30th. This represents a $0.54 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Friday, August 16th.

Brookline Bancorp has raised its dividend payment by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 56.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brookline Bancorp to earn $1.01 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 53.5%.

Brookline Bancorp Trading Up 1.4 %

NASDAQ BRKL opened at $10.42 on Friday. The stock has a market cap of $926.23 million, a P/E ratio of 11.20 and a beta of 0.79. The company’s fifty day simple moving average is $8.82 and its 200-day simple moving average is $9.39. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. Brookline Bancorp has a 52 week low of $7.93 and a 52 week high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings data on Wednesday, July 24th. The bank reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $161.75 million for the quarter, compared to analyst estimates of $89.40 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.53%. During the same quarter in the previous year, the business posted $0.26 EPS. Equities research analysts predict that Brookline Bancorp will post 0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.25.

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.