5 Cheap Dividend Stocks with Payout Ratio Under 40%

3. Brookline Bancorp, Inc. (NASDAQ: BRKL)

Number of Hedge Fund Holders: 10
Dividend Yield: 3.22%

Payout Ratio: 35.5%

Brookline Bancorp, Inc. (NASDAQ: BRKL), yet another bank holding company, is up next on our list of cheap dividend stocks with payout ratio under 40%. This is the bank holding company for Brookline Bank, and ranks 3rd on our list. It offers a range of financial products and services like non-interest-bearing demand checking, NOW, savings, and money market accounts.

Piper Sandler upgraded shares of Brookline Bancorp, Inc. (NASDAQ: BRKL) from Neutral to Overweight just this July. The firm also raised its price target on the stock from $17 to $17.50.

In the second quarter of 2021, Brookline Bancorp, Inc. (NASDAQ: BRKL) had an EPS of $0.40, beating estimates by $0.09. The company’s revenue was $77.02 million, up 9.21% year over year and beating estimates by $2.36 million. Brookline Bancorp, Inc. (NASDAQ: BRKL) has gained 2.34% in the past 6 months and 23.96% year to date.

By the end of the second quarter of 2021, 10 hedge funds out of the 873 tracked by Insider Monkey held stakes in Brookline Bancorp, Inc. (NASDAQ: BRKL) worth roughly $44 million. This is compared to 9 hedge funds in the previous quarter with a total stake value of approximately $47 million.