Dime Community Bancshares, Inc. Announces Dividend of $0.34 (NASDAQ:DCOM)

Key Points

• Dime Community Bancshares, Inc. announced a dividend of $0.34 per share, with a yield of 496%, payable on August 15th to shareholders of record on August 11th.
• The company reported earnings per share (EPS) of $0.64 for the last quarter, surpassing analyst expectations of $0.63, with revenue also exceeding forecasts at $109.54 million.
• Insiders own 7.10% of the company, and recent trading activity revealed Director Raymond A. Nielsen sold 2,000 shares, reducing his stake in the company.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) announced a dividend on Friday, August 1st, investing.com reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.3438 per share by the savings and loans company on Friday, August 15th. This represents a dividend yield of 496.0%. The ex-dividend date is Friday, August 8th.

Dime Community Bancshares has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

DCOM stock opened at $27.71 on Friday. Dime Community Bancshares has a one year low of $21.53 and a one year high of $37.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 32.99 and a beta of 1.07. The firm has a 50-day simple moving average of $27.33 and a two-hundred day simple moving average of $28.06.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.01. The firm had revenue of $109.54 million for the quarter, compared to analyst estimates of $107.08 million. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%. During the same quarter last year, the firm posted $0.37 EPS. On average, equities analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 2,000 shares of Dime Community Bancshares stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total value of $51,160.00. Following the sale, the director owned 35,392 shares of the company's stock, valued at $905,327.36. This trade represents a 5.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 7.10% of the company's stock.

Institutional Trading of Dime Community Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of DCOM. Vanguard Group Inc. increased its position in Dime Community Bancshares by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,754,416 shares of the savings and loans company's stock worth $76,793,000 after buying an additional 14,802 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Dime Community Bancshares by 16.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,357,255 shares of the savings and loans company's stock worth $65,721,000 after acquiring an additional 340,046 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Dime Community Bancshares by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,299,379 shares of the savings and loans company's stock worth $70,671,000 after acquiring an additional 71,273 shares during the period. Basswood Capital Management L.L.C. boosted its holdings in shares of Dime Community Bancshares by 1.5% during the fourth quarter. Basswood Capital Management L.L.C. now owns 2,064,565 shares of the savings and loans company's stock worth $63,454,000 after acquiring an additional 30,202 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Dime Community Bancshares by 25.3% during the first quarter. Wellington Management Group LLP now owns 1,592,656 shares of the savings and loans company's stock worth $44,403,000 after acquiring an additional 321,353 shares during the period. Institutional investors and hedge funds own 75.27% of the company's stock.

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.

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