Brookline Bancorp (NASDAQ:BRKL) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Brookline Bancorp (NASDAQ:BRKL) announced its quarterly earnings data on Wednesday. The bank reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03, Yahoo Finance reports. The firm had revenue of $165.91 million for the quarter, compared to analysts’ expectations of $88.67 million. Brookline Bancorp had a return on equity of 6.51% and a net margin of 12.04%. During the same period last year, the business posted $0.26 earnings per share.

Brookline Bancorp Stock Performance

NASDAQ:BRKL traded up $0.32 during mid-day trading on Friday, hitting $10.86. The stock had a trading volume of 469,062 shares, compared to its average volume of 501,867. Brookline Bancorp has a 52 week low of $7.93 and a 52 week high of $11.52. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $965.40 million, a price-to-earnings ratio of 11.68 and a beta of 0.78. The company has a 50 day simple moving average of $10.11 and a 200-day simple moving average of $9.40.

Brookline Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.135 per share. The ex-dividend date is Friday, November 15th. This represents a $0.54 annualized dividend and a dividend yield of 4.97%. Brookline Bancorp’s dividend payout ratio is currently 58.06%.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Brookline Bancorp from $10.50 to $11.00 and gave the company a “market perform” rating in a report on Friday, July 26th.

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.