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

Brookline Bancorp, Inc. (NASDAQ:BRKL - Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Shareholders of record on Friday, November 15th will be paid 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 4.97%. The ex-dividend date of this dividend is Friday, November 15th.

Brookline Bancorp has increased its dividend payment by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 55.1% meaning its dividend is sufficiently covered by earnings. Research 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 BRKL traded up $0.32 during trading hours on Friday, reaching $10.86. The company had a trading volume of 469,062 shares, compared to its average volume of 501,867. The company has a market capitalization of $965.40 million, a price-to-earnings ratio of 11.33 and a beta of 0.78. Brookline Bancorp has a 12-month low of $7.93 and a 12-month high of $11.52. The firm has a 50 day simple moving average of $10.09 and a 200-day simple moving average of $9.39. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19.

Brookline Bancorp (NASDAQ:BRKL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The company had revenue of $165.91 million during the quarter, compared to analysts' expectations of $88.67 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same period last year, the company posted $0.26 earnings per share. Research analysts expect that Brookline Bancorp will post 0.77 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price target on Brookline Bancorp from $10.50 to $11.00 and gave the company a "market perform" rating in a research report on Friday, July 26th.

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.