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

Brookline Bancorp, Inc. (NASDAQ:BRKL) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders 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 dividend yield of 6.41%. The ex-dividend date of this dividend is Thursday, May 9th.

Brookline Bancorp has increased its dividend payment by an average of 5.5% annually over the last three years. Brookline Bancorp has a payout ratio of 46.2% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 11.7 %

NASDAQ BRKL opened at $8.42 on Friday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $754.85 million, a P/E ratio of 9.05 and a beta of 0.75. Brookline Bancorp has a one year low of $7.00 and a one year high of $11.52. The stock has a 50 day moving average price of $9.55 and a 200-day moving average price of $9.78.

Brookline Bancorp (NASDAQ:BRKL) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $160.35 million during the quarter, compared to the consensus estimate of $89.38 million. Brookline Bancorp had a return on equity of 7.12% and a net margin of 13.13%. During the same period last year, the company earned $0.39 earnings per share. As a group, equities analysts predict that Brookline Bancorp will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on BRKL. Piper Sandler restated an “overweight” rating and issued a $12.00 price target on shares of Brookline Bancorp in a research report on Wednesday, March 27th. StockNews.com upgraded Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Brookline Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.38.

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.