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

Dime Community Bancshares (NASDAQ:DCOM) announced its quarterly earnings results on Thursday. The savings and loans company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates 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 Stock Performance

DCOM opened at $31.66 on Thursday. The business’s 50-day simple moving average is $33.16 and its 200 day simple moving average is $28.87. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $37.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $1.24 billion, a PE ratio of 21.11 and a beta of 1.05.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 17th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Friday, January 17th. Dime Community Bancshares’s payout ratio is 66.67%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L bought 29,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were bought at an average cost of $32.00 per share, with a total value of $928,000.00. Following the acquisition, the director now owns 1,044,221 shares in the company, valued at $33,415,072. This trade represents 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 link. Also, CTO Michael Fegan sold 2,000 shares of Dime Community Bancshares 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 owns 20,155 shares of the company’s stock, valued at $720,742.80. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DCOM. Raymond James boosted their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Stephens upgraded Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $30.00 to $39.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.20.

About Dime Community Bancshares

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.