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. Investors of record on Friday, May 10th will be paid 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 yield of 6.53%. The ex-dividend date is Thursday, May 9th.

Brookline Bancorp has increased its dividend 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. Equities 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 1.8 %

NASDAQ BRKL traded down $0.15 on Friday, reaching $8.27. The company had a trading volume of 195,446 shares, compared to its average volume of 444,693. The firm has a market capitalization of $741.41 million, a price-to-earnings ratio of 9.05 and a beta of 0.75. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. Brookline Bancorp has a 1-year low of $7.00 and a 1-year high of $11.52. The company’s fifty day moving average is $9.55 and its 200-day moving average is $9.78.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on BRKL shares. Piper Sandler restated an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a research report on Wednesday, March 27th. StockNews.com upgraded shares of Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $11.38.

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.