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

Dime Community Bancshares (NASDAQ:DCOM) issued its earnings results on Tuesday. The savings and loans company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.56 by $0.01, Zacks reports. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. During the same period in the previous year, the firm posted $0.38 earnings per share.

Dime Community Bancshares Stock Down 0.4 %

Shares of DCOM opened at $25.12 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares has a 1 year low of $17.49 and a 1 year high of $37.60. The stock has a 50 day simple moving average of $27.94 and a two-hundred day simple moving average of $30.69. The firm has a market cap of $1.10 billion, a P/E ratio of 42.58 and a beta of 0.96.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 17th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 3.98%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 169.49%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DCOM. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Activity

In other Dime Community Bancshares 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 completion of the sale, the director now directly owns 37,147 shares in the company, valued at $1,158,986.40. This trade represents a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the completion of the sale, the director now directly owns 41,185 shares in the company, valued at $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. Over the last three months, insiders have purchased 1,729 shares of company stock valued at $48,021. 9.10% of the stock is currently owned by insiders.

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.