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

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 yield of 6.48%. The ex-dividend date of this dividend 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 Price Performance

NASDAQ BRKL traded down $0.08 on Friday, reaching $8.34. The company's stock had a trading volume of 637,357 shares, compared to its average volume of 450,439. The firm has a market cap of $747.23 million, a PE ratio of 8.96 and a beta of 0.75. The business has a 50-day moving average price of $9.51 and a 200 day moving average price of $9.78. Brookline Bancorp has a 52 week low of $7.00 and a 52 week high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15.

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

Analysts Set New Price Targets

BRKL has been the topic of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective on shares of Brookline Bancorp from $12.00 to $10.50 and set a "market perform" rating on the stock in a research note on Friday. Piper Sandler reaffirmed an "overweight" rating and set a $12.00 price objective on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Finally, StockNews.com raised shares of Brookline Bancorp from a "sell" rating to a "hold" rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Brookline Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $11.08.

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.