Dime Community Bancshares (NASDAQ:DCOM) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings results on Thursday. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02), Zacks reports. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $30.81 on Friday. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $37.60. The firm has a market cap of $1.21 billion, a P/E ratio of 20.54 and a beta of 1.05. 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 business’s fifty day moving average is $33.10 and its two-hundred day moving average is $28.89.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were given a $0.25 dividend. The ex-dividend date was Friday, January 17th. This represents a $1.00 annualized dividend and a yield of 3.25%. Dime Community Bancshares’s payout ratio is 66.67%.

Analysts Set New Price Targets

A number of research firms have weighed in on DCOM. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $36.00 to $38.00 in a research note on Thursday. Keefe, Bruyette & Woods lowered their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James increased their target price on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $39.00 in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Insider Activity at Dime Community Bancshares

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