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

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings data 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 return on equity of 5.58% and a net margin of 9.65%.

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $31.75 on Thursday. The stock’s 50-day simple moving average is $33.16 and its 200-day simple moving average is $28.87. 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 21.17 and a beta of 1.05. Dime Community Bancshares has a fifty-two week low of $17.29 and a fifty-two week high of $37.60.

Dime Community Bancshares Dividend Announcement

The firm 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. The ex-dividend date is Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.15%. Dime Community Bancshares’s payout ratio is currently 66.67%.

Analyst Ratings Changes

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

Insider Buying and Selling at Dime Community Bancshares

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