Brookline Bancorp (BRKL) Declares $0.14 Dividend

Brookline Bancorp said on April 26, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.54 annualized). Previously, the company paid $0.14 per share.

Shares must be purchased before the ex-div date of May 11, 2023 to qualify for the dividend. Shareholders of record as of May 12, 2023 will receive the payment on May 26, 2023.

At the current share price of $9.77 / share, the stock's dividend yield is 5.53%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.41%, the lowest has been 2.09%, and the highest has been 5.37%. The standard deviation of yields is 0.80 (n=237).

The current dividend yield is 2.65 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.52. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.17%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 484 funds or institutions reporting positions in Brookline Bancorp. This is an increase of 13 owner(s) or 2.76% in the last quarter. Average portfolio weight of all funds dedicated to BRKL is 0.09%, an increase of 15.39%. Total shares owned by institutions increased in the last three months by 2.18% to 80,706K shares. The put/call ratio of BRKL is 0.60, indicating a bullish outlook.

Analyst Price Forecast Suggests 42.68% Upside

As of April 24, 2023, the average one-year price target for Brookline Bancorp is 13.94. The forecasts range from a low of 12.62 to a high of $16.28. The average price target represents an increase of 42.68% from its latest reported closing price of 9.77.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Brookline Bancorp is 395MM, an increase of 24.41%. The projected annual non-GAAP EPS is 1.70.

What are Other Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 5,284K shares representing 5.94% ownership of the company. In it's prior filing, the firm reported owning 5,223K shares, representing an increase of 1.15%. The firm increased its portfolio allocation in BRKL by 11.79% over the last quarter.

Fuller & Thaler Asset Management holds 4,064K shares representing 4.57% ownership of the company. In it's prior filing, the firm reported owning 3,817K shares, representing an increase of 6.07%. The firm increased its portfolio allocation in BRKL by 14.05% over the last quarter.

UBVLX - Undiscovered Managers Behavioral Value Fund Class L holds 3,281K shares representing 3.69% ownership of the company. In it's prior filing, the firm reported owning 3,045K shares, representing an increase of 7.19%. The firm increased its portfolio allocation in BRKL by 17.02% over the last quarter.

Massachusetts Financial Services holds 3,275K shares representing 3.68% ownership of the company. In it's prior filing, the firm reported owning 3,189K shares, representing an increase of 2.60%. The firm increased its portfolio allocation in BRKL by 16.44% over the last quarter.

NDVAX - MFS New Discovery Value Fund A holds 2,707K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 2,591K shares, representing an increase of 4.31%. The firm decreased its portfolio allocation in BRKL by 5.46% over the last quarter.

Brookline Bancorp Background Information
(This description is provided by the company.)

Brookline Bancorp, Inc., a bank holding company with approximately $8.9 billion in assets and branch locations in eastern Massachusetts and Rhode Island, is headquartered in Boston, Massachusetts and operates as the holding company for Brookline Bank and Bank Rhode Island. The Company provides commercial and retail banking services and cash management and investment services to customers throughout Central New England.

This story originally appeared on Fintel.