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

Brookline Bancorp logo with Finance background

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Stockholders of record on Friday, August 8th will be given a dividend of 0.135 per share by the bank on Friday, August 22nd. This represents a $0.54 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, August 8th.

Brookline Bancorp has a payout ratio of 20.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brookline Bancorp to earn $2.65 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 20.4%.

Brookline Bancorp Stock Down 0.1%

Shares of NASDAQ BRKL traded down $0.01 during trading hours on Monday, hitting $10.81. The company had a trading volume of 377,731 shares, compared to its average volume of 592,493. The stock has a market capitalization of $963.28 million, a P/E ratio of 12.15 and a beta of 0.88. The company has a quick ratio of 1.09, a current ratio of 1.10 and a debt-to-equity ratio of 0.92. Brookline Bancorp has a 1-year low of $9.24 and a 1-year high of $13.15. The firm's 50 day moving average is $10.66 and its 200-day moving average is $10.97.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. Brookline Bancorp had a return on equity of 6.69% and a net margin of 12.12%. The company had revenue of $94.66 million during the quarter, compared to the consensus estimate of $94.90 million. On average, analysts expect that Brookline Bancorp will post 1.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen began coverage on Brookline Bancorp in a research note on Monday, May 19th. They issued a "hold" rating on the stock.

Get Our Latest Stock Analysis on BRKL

Institutional Investors Weigh In On Brookline Bancorp

Hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new stake in shares of Brookline Bancorp during the first quarter valued at approximately $2,114,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Brookline Bancorp by 17.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 174,573 shares of the bank's stock worth $1,903,000 after purchasing an additional 26,218 shares during the last quarter. Empowered Funds LLC boosted its position in Brookline Bancorp by 1.9% in the first quarter. Empowered Funds LLC now owns 259,902 shares of the bank's stock worth $2,833,000 after purchasing an additional 4,772 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Brookline Bancorp by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,433 shares of the bank's stock worth $572,000 after purchasing an additional 2,294 shares during the last quarter. Finally, Focus Partners Wealth boosted its position in Brookline Bancorp by 9.9% in the first quarter. Focus Partners Wealth now owns 11,243 shares of the bank's stock worth $123,000 after purchasing an additional 1,010 shares during the last quarter. 78.91% of the stock is currently owned by institutional investors and hedge funds.

About Brookline Bancorp

(Get Free Report)

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.

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Dividend History for Brookline Bancorp (NASDAQ:BRKL)

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