Dime Community Bancshares (NASDAQ:DCOM) Posts Earnings Results, Beats Estimates By $0.01 EPS

Dime Community Bancshares (NASDAQ:DCOM) released its earnings results on Tuesday. The savings and loans company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, Zacks reports. Dime Community Bancshares had a return on equity of 7.76% and a net margin of 11.46%. The firm had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. During the same period in the prior year, the firm posted $0.68 earnings per share.

Dime Community Bancshares Trading Down 0.1 %

Shares of NASDAQ:DCOM traded down $0.02 during midday trading on Wednesday, reaching $24.72. The company had a trading volume of 118,543 shares, compared to its average volume of 229,582. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $27.91. The firm has a market cap of $963.34 million, a price-to-earnings ratio of 13.90 and a beta of 1.01. The company has a fifty day simple moving average of $19.83 and a two-hundred day simple moving average of $20.01.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.05%. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DCOM shares. Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $23.00 to $26.00 in a report on Tuesday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $25.50 price target on shares of Dime Community Bancshares in a report on Friday, June 28th. Finally, StockNews.com upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.