Brookline Bancorp (NASDAQ:BRKL) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Brookline Bancorp (NASDAQ:BRKL) posted its quarterly earnings data on Wednesday. The bank reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03, Yahoo Finance reports. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. The company had revenue of $165.91 million during the quarter, compared to analyst estimates of $88.67 million. During the same period in the previous year, the firm earned $0.26 earnings per share.

Brookline Bancorp Stock Performance

Brookline Bancorp stock traded up $0.32 during mid-day trading on Friday, reaching $10.86. 469,062 shares of the company traded hands, compared to its average volume of 501,867. Brookline Bancorp has a fifty-two week low of $7.93 and a fifty-two week high of $11.52. The firm’s fifty day moving average is $10.11 and its two-hundred day moving average is $9.40. 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 $965.40 million, a price-to-earnings ratio of 11.68 and a beta of 0.78.

Brookline Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.135 dividend. 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’s payout ratio is currently 58.06%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods upped their target price on Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a research note 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.