Dime Community Bancshares, Inc. (NASDAQ:DCOM) to Issue $0.34 Dividend

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) declared 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 yield of 496.0%. The ex-dividend date of this dividend is Friday, August 8th.

Dime Community Bancshares has a 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 traded up $0.19 during midday trading on Tuesday, hitting $27.61. 143,005 shares of the company traded hands, compared to its average volume of 285,335. The firm has a market capitalization of $1.21 billion, a PE ratio of 32.86 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. Dime Community Bancshares has a 52 week low of $21.77 and a 52 week high of $37.60. The company's 50-day moving average is $27.41 and its 200 day moving average is $27.94.

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

Insider Activity at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of Dime Community Bancshares stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total value of $51,160.00. Following the completion of the transaction, the director owned 35,392 shares in the company, valued at approximately $905,327.36. The trade was a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.10% of the company's stock.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in Dime Community Bancshares by 14.0% in the 1st quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock valued at $110,000 after acquiring an additional 483 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Dime Community Bancshares by 14.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 22,391 shares of the savings and loans company's stock worth $624,000 after purchasing an additional 2,840 shares during the last quarter. Northern Trust Corp raised its stake in Dime Community Bancshares by 19.5% in the fourth quarter. Northern Trust Corp now owns 428,321 shares of the savings and loans company's stock valued at $13,164,000 after buying an additional 69,856 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Dime Community Bancshares in the fourth quarter valued at about $480,000. Finally, Alliancebernstein L.P. raised its stake in Dime Community Bancshares by 50.1% in the fourth quarter. Alliancebernstein L.P. now owns 56,472 shares of the savings and loans company's stock valued at $1,736,000 after buying an additional 18,852 shares during the last quarter. Institutional investors own 75.27% of the company's stock.

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.