Brookline Bancorp, Inc. (BRKL) to Issue Quarterly Dividend of $0.14 on May 24th

Brookline Bancorp, Inc. (NASDAQ:BRKL) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, May 10th will be given 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 6.10%. The ex-dividend date is Thursday, May 9th.

Brookline Bancorp has increased its dividend payment by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 52.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:BRKL opened at $8.85 on Tuesday. Brookline Bancorp has a 12 month low of $7.42 and a 12 month high of $11.52. The stock has a 50 day moving average of $9.36 and a two-hundred day moving average of $9.77. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. The firm has a market cap of $793.40 million, a P/E ratio of 9.52 and a beta of 0.79.

Wall Street Analysts Forecast Growth

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