Dime Community Bancshares, Inc. (NASDAQ:DCOM) Plans $0.25 Quarterly Dividend

Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Shareholders of record on Thursday, April 17th will be given a dividend of 0.25 per share by the savings and loans company on Thursday, April 24th. This represents a $1.00 dividend on an annualized basis and a yield of 3.54%.

Dime Community Bancshares has increased its dividend by an average of 1.4% per year over the last three years. Dime Community Bancshares has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Trading Up 0.1 %

Shares of NASDAQ:DCOM opened at $28.23 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 47.85 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares has a 12-month low of $17.49 and a 12-month high of $37.60. The business’s fifty day simple moving average is $30.26 and its 200-day simple moving average is $30.90.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. As a group, equities research analysts predict that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L bought 1,043 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $31.23 per share, for a total transaction of $32,572.89. Following the purchase, the director now directly owns 1,043 shares of the company’s stock, valued at approximately $32,572.89. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond A. Nielsen sold 3,000 shares of Dime Community Bancshares stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the sale, the director now directly owns 41,185 shares of the company’s stock, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,729 shares of company stock worth $48,021. 9.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DCOM has been the subject of a number of analyst reports. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the company from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

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.