Brookline Bancorp, Inc. (NASDAQ:BRKL – Get Rating) declared a quarterly dividend on Wednesday, January 25th, Zacks reports. Investors of record on Friday, February 10th will be paid a dividend of 0.135 per share by the bank on Friday, February 24th. This represents a $0.54 annualized dividend and a yield of 4.25%. The ex-dividend date is Thursday, February 9th.
→ Is This The End of Capitalism? (From Porter & Company)
Brookline Bancorp has raised its dividend by an average of 5.7% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Brookline Bancorp has a payout ratio of 33.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Brookline Bancorp to earn $1.63 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 33.1%.
Brookline Bancorp Price Performance
Shares of NASDAQ:BRKL opened at $12.70 on Friday. Brookline Bancorp has a twelve month low of $11.59 and a twelve month high of $17.73. The company’s 50 day moving average is $13.78 and its 200 day moving average is $13.35. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.79. The company has a market cap of $975.92 million, a PE ratio of 8.86 and a beta of 0.72.
Brookline Bancorp (NASDAQ:BRKL – Get Rating) last issued its quarterly earnings results on Thursday, January 26th. The bank reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Brookline Bancorp had a return on equity of 11.48% and a net margin of 29.38%. The business had revenue of $112.46 million during the quarter, compared to analyst estimates of $87.79 million. During the same quarter last year, the company posted $0.37 EPS. On average, sell-side analysts forecast that Brookline Bancorp will post 1.5 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Brookline Bancorp during the 1st quarter valued at approximately $45,000. Graham Capital Management L.P. purchased a new position in shares of Brookline Bancorp during the 1st quarter valued at approximately $255,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Brookline Bancorp during the 1st quarter valued at approximately $263,000. Envestnet Asset Management Inc. lifted its position in shares of Brookline Bancorp by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,915 shares of the bank’s stock valued at $292,000 after buying an additional 1,044 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Brookline Bancorp by 112.6% during the 3rd quarter. Jane Street Group LLC now owns 25,918 shares of the bank’s stock valued at $302,000 after buying an additional 13,726 shares in the last quarter. Hedge funds and other institutional investors own 82.28% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on the stock. Compass Point raised their price objective on shares of Brookline Bancorp to $20.00 in a research note on Tuesday, November 1st. Raymond James assumed coverage on shares of Brookline Bancorp in a research note on Tuesday, December 20th. They set a “market perform” rating on the stock. Piper Sandler dropped their price objective on shares of Brookline Bancorp to $14.50 in a research note on Wednesday, October 5th. Finally, StockNews.com assumed coverage on shares of Brookline Bancorp in a research note on Wednesday, October 12th. They set a “hold” rating on the stock.
Brookline Bancorp Company Profile
(Get Rating)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Brookline Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Brookline Bancorp wasn’t on the list.
While Brookline Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
