Brookline Bancorp (NASDAQ:BRKL) Issues Earnings Results, Misses Expectations By $0.01 EPS

Brookline Bancorp (NASDAQ:BRKL) released its quarterly earnings results on Wednesday. The bank reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01), Zacks reports. Brookline Bancorp had a net margin of 10.51% and a return on equity of 5.95%.

Brookline Bancorp Stock Performance

Shares of NASDAQ:BRKL opened at $12.29 on Friday. Brookline Bancorp has a 1 year low of $8.01 and a 1 year high of $13.15. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50 day moving average price is $12.11 and its 200-day moving average price is $11.03. The firm has a market capitalization of $1.10 billion, a PE ratio of 15.96 and a beta of 0.79.

Brookline Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend is Friday, February 14th. Brookline Bancorp’s dividend payout ratio is presently 70.13%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods downgraded Brookline Bancorp from an “outperform” rating to a “market perform” rating and set a $14.50 target price on the stock. in a research note on Tuesday, December 24th. StockNews.com initiated coverage on Brookline Bancorp in a research report on Monday. They set a “hold” rating on the stock. Finally, Raymond James raised shares of Brookline Bancorp from a “market perform” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, December 20th.

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.