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

Brookline Bancorp, Inc. (NASDAQ:BRKL) announced a quarterly dividend on Thursday, January 30th,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 4.40%. The ex-dividend date is Friday, February 14th.

Brookline Bancorp has increased 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. Research analysts expect Brookline Bancorp to earn $1.09 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 49.5%.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL traded up $0.23 on Thursday, hitting $12.28. 342,491 shares of the company were exchanged, compared to its average volume of 556,589. The company’s 50 day moving average price is $12.11 and its two-hundred day moving average price is $11.02. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 14.80 and a beta of 0.79. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.13 and a current ratio of 1.13. Brookline Bancorp has a one year low of $8.01 and a one year high of $13.15.

Brookline Bancorp (NASDAQ:BRKL) last announced its quarterly earnings data on Wednesday, January 29th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Brookline Bancorp had a return on equity of 6.20% and a net margin of 11.40%. Research analysts expect that Brookline Bancorp will post 0.82 earnings per share for the current year.

Wall Street Analyst Weigh In

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