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

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 paid a dividend of 0.135 per share by the bank on Friday, February 28th. This represents a $0.54 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Friday, February 14th.

Brookline Bancorp has raised its dividend payment by an average of 4.0% per year over the last three years. Brookline Bancorp has a payout ratio of 36.2% 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 Stock Up 2.0 %

Shares of BRKL stock opened at $12.29 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 15.96 and a beta of 0.79. 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 fifty day moving average price of $12.11 and a 200 day moving average price of $11.03. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 5.95% and a net margin of 10.51%. Analysts predict that Brookline Bancorp will post 1.09 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BRKL has been the topic of several analyst reports. Raymond James upgraded Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th. StockNews.com began coverage on Brookline Bancorp in a research report on Monday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods cut Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price objective for the company. in a report on Tuesday, December 24th.

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.