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

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 6.16%. The ex-dividend date of this dividend is Thursday, May 9th.

Brookline Bancorp has increased its dividend by an average of 5.5% per year over the last three years. Brookline Bancorp has a dividend payout ratio of 52.9% meaning 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 Stock Performance

NASDAQ BRKL opened at $8.76 on Wednesday. Brookline Bancorp has a fifty-two week low of $7.42 and a fifty-two week high of $11.52. The stock has a market cap of $785.33 million, a PE ratio of 9.42 and a beta of 0.79. 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 firm’s fifty day moving average price is $9.34 and its two-hundred day moving average price is $9.77.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BRKL shares. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th. Keefe, Bruyette & Woods lowered their price objective 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. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.08.

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.