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

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) declared a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Investors of record on Friday, February 14th will be paid a dividend of 0.135 per share by the bank on Friday, February 28th. This represents a $0.54 annualized dividend and a yield of 4.48%. The ex-dividend date is Friday, February 14th.

Brookline Bancorp has raised its dividend by an average of 4.0% annually over the last three years. Brookline Bancorp has a dividend payout ratio of 24.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Brookline Bancorp to earn $1.43 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 37.8%.

Brookline Bancorp Price Performance

BRKL stock traded down $0.17 during midday trading on Monday, reaching $12.06. 468,429 shares of the company's stock traded hands, compared to its average volume of 582,259. Brookline Bancorp has a 1-year low of $8.01 and a 1-year high of $13.15. The company has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $11.07. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 15.66 and a beta of 0.79. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 1.24.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.94%. On average, analysts anticipate that Brookline Bancorp will post 1.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Raymond James upgraded Brookline Bancorp from a "market perform" rating to a "strong-buy" rating and set a $16.00 target price for the company in a research report on Friday, December 20th. StockNews.com assumed coverage on Brookline Bancorp in a report on Monday, January 27th. They set a "hold" rating for the company. Finally, Keefe, Bruyette & Woods downgraded shares of Brookline Bancorp from an "outperform" rating to a "market perform" rating and set a $14.50 price target on the stock. in a report on Tuesday, December 24th.

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.