Brookline Bancorp, Inc. (BRKL) to Issue Quarterly Dividend of $0.14 on February 28th

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders 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 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Friday, February 14th.

Brookline Bancorp has increased its dividend by an average of 4.0% annually over the last three years. Brookline Bancorp has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Brookline Bancorp to earn $2.18 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 24.8%.

Brookline Bancorp Price Performance

BRKL stock opened at $12.57 on Wednesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.13 and a current ratio of 1.12. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 16.32 and a beta of 0.79. The firm has a 50 day moving average price of $12.08 and a 200-day moving average price of $11.16. Brookline Bancorp has a 52-week low of $8.01 and a 52-week high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last released 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 5.94% and a net margin of 10.51%. Equities research analysts forecast that Brookline Bancorp will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on BRKL. Raymond James raised shares of 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 report on Friday, December 20th. StockNews.com initiated coverage on shares of Brookline Bancorp in a research report on Wednesday. They set a “hold” rating for the company. Finally, Keefe, Bruyette & Woods lowered shares of 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.

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.