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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, May 10th will be paid a dividend of 0.135 per share by the bank on Friday, May 24th. This represents a $0.54 dividend on an annualized basis and a yield of 6.16%. The ex-dividend date is Thursday, May 9th.

Brookline Bancorp has increased its dividend by an average of 5.5% annually over the last three years. Brookline Bancorp has a payout ratio of 52.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Brookline Bancorp to earn $1.01 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 53.5%.

Brookline Bancorp Price Performance

BRKL stock opened at $8.76 on Wednesday. The stock’s 50 day moving average price is $9.34 and its 200 day moving average price is $9.77. The firm has a market cap of $785.33 million, a P/E ratio of 9.42 and a beta of 0.79. Brookline Bancorp has a 1 year low of $7.42 and a 1 year high of $11.52. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.10 and a current ratio of 1.10.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BRKL shares. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. Keefe, Bruyette & Woods reduced their price objective on shares of Brookline Bancorp from $12.00 to $10.50 and set a “market perform” rating on the stock in a research note on Friday, April 26th. Finally, Piper Sandler restated an “overweight” rating and set a $12.00 price objective on shares of Brookline Bancorp in a research note on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookline Bancorp has an average rating of “Moderate Buy” and a consensus price target of $11.08.

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.