Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Free Report) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders 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 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Thursday, May 9th.
Brookline Bancorp has increased its dividend payment by an average of 5.5% annually over the last three years. Brookline Bancorp has a payout ratio of 46.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Brookline Bancorp to earn $1.23 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 43.9%.
Brookline Bancorp Price Performance
Shares of BRKL stock traded down $0.15 during mid-day trading on Friday, hitting $8.27. 195,446 shares of the stock traded hands, compared to its average volume of 444,693. Brookline Bancorp has a twelve month low of $7.00 and a twelve month high of $11.52. The firm has a market cap of $741.41 million, a price-to-earnings ratio of 9.05 and a beta of 0.75. The company’s 50-day simple moving average is $9.55 and its 200-day simple moving average is $9.78. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11.
Wall Street Analyst Weigh In
Several brokerages have recently commented on BRKL. Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Brookline Bancorp in a research report on Wednesday, March 27th. StockNews.com raised Brookline Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $11.38.
Check Out Our Latest Report on Brookline Bancorp
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.
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