Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating) declared a quarterly dividend on Wednesday, October 26, Zacks reports. Shareholders of record on Friday, November 11 will receive a dividend of 0.135 per share from the bank on Friday, November 25. This represents an annualized dividend of $0.54 and a yield of 3.99%. The ex-dividend date is Wednesday, November 9. This is an increase from Brookline Bancorp’s previous quarterly dividend of $0.13.

Brookline Bancorp has increased its dividend by an average of 6.7% per year for the past three years and has increased its dividend annually for the past 2 consecutive years. Brookline Bancorp has a dividend payout ratio of 34.4%, indicating that its dividend is sufficiently covered by earnings. Analysts expect Brookline Bancorp to earn $1.60 per share next year, meaning the company should continue to be able to cover its $0.52 annual dividend with a future payout ratio. forecast of 32.5%.

Price performance of Brookline Bancorp

Shares of NASDAQ BRKL traded at $0.51 at midday on Friday, hitting $13.52. The company had a trading volume of 9,841 shares, compared to an average volume of 327,009. Brookline Bancorp has a one-year low of $11.59 and a one-year high of $17.74. The company has a debt ratio of 0.49, a quick ratio of 1.04 and a current ratio of 1.04. The company’s 50-day simple moving average is $12.65 and its 200-day simple moving average is $13.54. The company has a market capitalization of $1.04 billion, a price-earnings ratio of 9.23 and a beta of 0.68.

Brookline Bancorp Inc (NASDAQ:BRKL – Get Rating) last released quarterly earnings data on Wednesday, July 27. The bank reported EPS of $0.33 for the quarter, missing analyst consensus estimates of $0.34 per ($0.01). The company posted revenue of $78.80 million in the quarter, versus analyst estimates of $78.70 million. Brookline Bancorp had a return on equity of 10.98% and a net margin of 31.88%. During the same period of the previous year, the company made earnings per share of $0.40. On average, research analysts predict that Brookline Bancorp will post 1.37 earnings per share for the current fiscal year.

Hedge funds weigh on Brookline Bancorp

A number of hedge funds have recently bought and sold shares of BRKL. Quantbot Technologies LP purchased a new stake in Brookline Bancorp stock during Q1 for approximately $45,000. Graham Capital Management LP purchased a new equity stake in Brookline Bancorp during Q1 worth approximately $255,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Brookline Bancorp during Q1 for $263,000. Envestnet Asset Management Inc. increased its stake in Brookline Bancorp by 5.0% during the second quarter. Envestnet Asset Management Inc. now owns 21,915 shares of the bank valued at $292,000 after purchasing an additional 1,044 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Brookline Bancorp during the 1st quarter for a value of $363,000. Hedge funds and other institutional investors hold 81.82% of the company’s shares.

Analysts set new price targets

Several research analysts have weighed in on BRKL shares. StockNews.com began covering Brookline Bancorp in a research report on Wednesday, October 12. They issued a “hold” rating on the stock. Piper Sandler lowered her price target on Brookline Bancorp to $14.50 in a Wednesday, October 5 research note.

Brookline Bancorp Company Profile

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Brookline Bancorp, Inc operates as a bank holding company for Brookline Bank which provides commercial, commercial and retail banking services to businesses, municipalities and individuals in the United States. Its deposit products include on-demand checking, NOW, money market and savings accounts. The Company’s loan portfolio primarily includes first mortgage loans secured by commercial, multi-family and residential real estate properties; loans to commercial entities including commercial lines of credit; loans to associations of co-owners; loans and leases used to finance small business equipment; financing of construction and development projects; and equity in housing and other consumer loans.

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