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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders of record on Friday, February 14th will be given a dividend of 0.135 per share by the bank on Friday, February 28th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Friday, February 14th.

Brookline Bancorp has increased its dividend by an average of 4.0% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Brookline Bancorp to earn $1.09 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 49.5%.

Brookline Bancorp Stock Performance

NASDAQ:BRKL traded up $0.23 during mid-day trading on Thursday, reaching $12.28. 342,491 shares of the company’s stock were exchanged, compared to its average volume of 556,589. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. The business’s fifty day simple moving average is $12.11 and its two-hundred day simple moving average is $11.02. The firm has a market capitalization of $1.09 billion, a PE ratio of 14.80 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last announced its earnings results on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. Analysts anticipate that Brookline Bancorp will post 0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BRKL. StockNews.com assumed coverage on Brookline Bancorp in a research report on Monday. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered shares of Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a report on Tuesday, December 24th. Finally, Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target for the company in a report on Friday, December 20th.

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.