Dime Community Bancshares, Inc. Plans Quarterly Dividend of $0.25 (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.54%.

Dime Community Bancshares has raised its dividend by an average of 1.4% annually over the last three years. Dime Community Bancshares has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Stock Up 0.1 %

DCOM stock opened at $28.23 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $30.26 and a 200 day moving average of $30.90. Dime Community Bancshares has a twelve month low of $17.49 and a twelve month high of $37.60. The firm has a market cap of $1.23 billion, a PE ratio of 47.85 and a beta of 1.04.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. On average, research analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 9,815 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the transaction, the director now owns 37,147 shares of the company’s stock, valued at $1,158,986.40. This trade represents a 20.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the sale, the director now directly owns 41,185 shares of the company’s stock, valued at approximately $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 1,729 shares of company stock valued at $48,021 in the last quarter. 9.10% of the stock is owned by insiders.

Analysts Set New Price Targets

DCOM has been the topic of several recent research reports. Keefe, Bruyette & Woods decreased their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Piper Sandler raised Dime Community Bancshares from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

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.