Brookline Bancorp (NASDAQ:BRKL) Announces Earnings Results

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

Brookline Bancorp Stock Performance

Brookline Bancorp stock traded up $0.32 during mid-day trading on Friday, hitting $10.86. The company had a trading volume of 469,062 shares, compared to its average volume of 501,867. 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 has a 12-month low of $7.93 and a 12-month high of $11.52. The company’s fifty day moving average is $10.11 and its 200-day moving average is $9.40. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Friday, November 15th. Brookline Bancorp’s payout ratio is presently 58.06%.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their target price on shares of Brookline Bancorp from $10.50 to $11.00 and gave the stock a “market perform” rating in a report on Friday, July 26th.

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.