Brookline Bancorp (NASDAQ:BRKL) Releases Earnings Results, Beats Estimates By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) released its quarterly earnings results on Wednesday. The bank reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01, Zacks reports. The firm had revenue of $161.75 million for the quarter, compared to the consensus estimate of $89.40 million. Brookline Bancorp had a return on equity of 6.53% and a net margin of 12.04%. During the same period last year, the business posted $0.26 EPS.

Brookline Bancorp Stock Performance

Shares of NASDAQ BRKL traded up $0.06 during mid-day trading on Friday, hitting $10.48. The stock had a trading volume of 29,269 shares, compared to its average volume of 470,651. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.10 and a current ratio of 1.10. The company has a 50 day moving average of $8.82 and a two-hundred day moving average of $9.39. Brookline Bancorp has a twelve month low of $7.93 and a twelve month high of $11.52. The firm has a market cap of $931.57 million, a PE ratio of 11.20 and a beta of 0.79.

Brookline Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.135 dividend. This represents a $0.54 annualized dividend and a dividend yield of 5.15%. The ex-dividend date is Friday, August 16th. Brookline Bancorp’s payout ratio is 58.07%.

Analyst Ratings Changes

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

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.