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

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

Brookline Bancorp has raised its dividend payment 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 Stock Up 1.6 %

Brookline Bancorp stock opened at $12.57 on Wednesday. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15. The stock has a fifty day moving average of $12.08 and a 200 day moving average of $11.16. 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 stock has a market cap of $1.12 billion, a PE ratio of 16.32 and a beta of 0.79.

Brookline Bancorp (NASDAQ:BRKL) last released its quarterly 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 net margin of 10.51% and a return on equity of 5.94%. As a group, sell-side analysts predict that Brookline Bancorp will post 1.35 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BRKL. Raymond James upgraded shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research report on Friday, December 20th. StockNews.com began coverage on Brookline Bancorp in a report on Wednesday. They issued a “hold” rating on the stock. Finally, Keefe, Bruyette & Woods lowered Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 price target 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.