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

Brookline Bancorp, Inc. (NASDAQ:BRKL) declared a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.135 per share by the bank on Friday, November 29th. This represents a $0.54 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Friday, November 15th.

Brookline Bancorp has increased its dividend by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 55.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Brookline Bancorp to earn $0.97 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 55.7%.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $10.54 on Friday. The business has a fifty day moving average price of $10.09 and a 200-day moving average price of $9.39. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $936.95 million, a PE ratio of 11.33 and a beta of 0.78. Brookline Bancorp has a 1-year low of $7.93 and a 1-year high of $11.52.

Brookline Bancorp (NASDAQ:BRKL) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same period in the previous year, the firm earned $0.26 earnings per share. As a group, equities analysts expect that Brookline Bancorp will post 0.77 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their target price on Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

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.