Dime Community Bancshares (NASDAQ:DCOM) Issues Quarterly Earnings Results

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02), Zacks reports. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $30.81 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $1.21 billion, a P/E ratio of 20.54 and a beta of 1.05. The business has a 50-day moving average of $33.10 and a two-hundred day moving average of $28.89. Dime Community Bancshares has a fifty-two week low of $17.29 and a fifty-two week high of $37.60.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend was Friday, January 17th. Dime Community Bancshares’s payout ratio is 66.67%.

Analyst Ratings Changes

Several analysts recently commented on DCOM shares. Raymond James raised their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $39.00 in a research note on Monday, November 18th. Keefe, Bruyette & Woods lowered their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $36.00 to $38.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Insider Activity at Dime Community Bancshares

In other news, Director Basswood Capital Management, L purchased 29,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the acquisition, the director now directly owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. The trade was a 2.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Michael Fegan sold 2,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now directly owns 20,155 shares of the company’s stock, valued at $720,742.80. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. 9.10% of the stock is owned by company insiders.

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.