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

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings results on Tuesday. The savings and loans company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01, Zacks reports. The business had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.62%. During the same period in the previous year, the firm posted $0.68 earnings per share.

Dime Community Bancshares Stock Up 3.7 %

Shares of NASDAQ DCOM traded up $0.88 during midday trading on Thursday, hitting $24.83. The stock had a trading volume of 245,833 shares, compared to its average volume of 230,559. The business’s 50 day moving average is $19.92 and its 200-day moving average is $20.04. The company has a market cap of $967.63 million, a P/E ratio of 13.46 and a beta of 1.01. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $27.91. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.87.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.03%. Dime Community Bancshares’s dividend payout ratio is presently 56.18%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $23.00 to $26.00 in a research note on Tuesday. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $27.25.

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.