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

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings data on Tuesday. The savings and loans company reported $0.29 earnings per share 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 company had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. During the same quarter last year, the company posted $0.56 earnings per share.

Dime Community Bancshares Price Performance

DCOM opened at $30.54 on Friday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 17.16 and a beta of 1.00. Dime Community Bancshares has a 1 year low of $17.29 and a 1 year high of $31.75. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day simple moving average is $27.01 and its 200 day simple moving average is $22.58.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

Analysts Set New Price Targets

DCOM has been the topic of several research reports. Keefe, Bruyette & Woods raised 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 report on Thursday, July 25th. StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Raymond James increased their price objective on 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. Finally, Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $26.00 in a research report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus 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.