Dime Community Bancshares (NASDAQ:DCOM) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings results on Tuesday. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12), Yahoo Finance reports. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The firm had revenue of $171.87 million for the quarter, compared to analyst estimates of $86.65 million. During the same quarter in the prior year, the business posted $0.56 EPS.

Dime Community Bancshares Trading Up 3.3 %

NASDAQ:DCOM opened at $30.14 on Thursday. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $31.75. The firm’s fifty day moving average is $27.01 and its 200-day moving average is $22.58. The firm has a market cap of $1.17 billion, a P/E ratio of 16.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 3.32%. Dime Community Bancshares’s payout ratio is 56.18%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Finally, Raymond James raised their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.50.

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.