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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, February 14th.

Brookline Bancorp has raised its dividend by an average of 4.0% per year over the last three years. Brookline Bancorp has a 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 Trading Down 0.5 %

BRKL opened at $12.23 on Friday. Brookline Bancorp has a 12-month low of $8.01 and a 12-month high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $1.09 billion, a PE ratio of 15.88 and a beta of 0.79. The firm’s fifty day moving average price is $12.11 and its 200 day moving average price is $11.04.

Brookline Bancorp (NASDAQ:BRKL) last posted its quarterly earnings results on Wednesday, January 29th. The bank reported $0.23 earnings per share (EPS) 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 5.95%. As a group, research analysts expect that Brookline Bancorp will post 1.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com began coverage on shares of Brookline Bancorp in a report on Monday, January 27th. They issued a “hold” rating on the stock. Raymond James raised Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Friday, December 20th. Finally, Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a research note 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.