Brookline Bancorp (NASDAQ:BRKL) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) posted its quarterly earnings results on Wednesday. The bank reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01, Zacks reports. The business had revenue of $161.75 million during the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a net margin of 12.04% and a return on equity of 6.51%. During the same quarter in the previous year, the firm posted $0.26 earnings per share.

Brookline Bancorp Price Performance

Shares of NASDAQ:BRKL opened at $10.50 on Friday. The company has a 50-day simple moving average of $8.85 and a 200-day simple moving average of $9.39. Brookline Bancorp has a one year low of $7.93 and a one year high of $11.52. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market capitalization of $933.35 million, a price-to-earnings ratio of 11.29 and a beta of 0.79.

Brookline Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.135 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 5.14%. Brookline Bancorp’s payout ratio is 58.07%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.25.

About Brookline Bancorp

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.