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

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) announced a quarterly dividend on Thursday, June 26th, RTT News reports. Investors of record on Thursday, July 17th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, July 24th. This represents a $1.00 annualized dividend and a yield of 3.73%.

Dime Community Bancshares has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research 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

Shares of Dime Community Bancshares stock traded up $1.01 during mid-day trading on Thursday, hitting $26.82. 466,678 shares of the stock were exchanged, compared to its average volume of 273,378. Dime Community Bancshares has a 12 month low of $19.08 and a 12 month high of $37.60. The company has a 50-day simple moving average of $26.23 and a 200 day simple moving average of $28.71. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.18 billion, a P/E ratio of 15.64 and a beta of 1.07.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The savings and loans company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.02. The firm had revenue of $103.83 million during the quarter, compared to analyst estimates of $105.83 million. Dime Community Bancshares had a net margin of 5.08% and a return on equity of 6.05%. During the same quarter last year, the business earned $0.38 earnings per share. Sell-side analysts anticipate that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DCOM has been the topic of several recent research reports. Stephens reduced their target price on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $36.88.

Insider Activity at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total transaction of $51,160.00. Following the completion of the transaction, the director now directly owns 35,392 shares in the company, valued at approximately $905,327.36. This represents a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of DCOM. Goldman Sachs Group Inc. increased its position in Dime Community Bancshares by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company's stock valued at $9,060,000 after purchasing an additional 18,195 shares during the period. AQR Capital Management LLC increased its holdings in Dime Community Bancshares by 132.3% in the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company's stock worth $4,726,000 after acquiring an additional 96,523 shares in the last quarter. Empowered Funds LLC boosted its holdings in Dime Community Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company's stock worth $2,289,000 after buying an additional 4,231 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Dime Community Bancshares by 16.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 81,273 shares of the savings and loans company's stock worth $2,266,000 after purchasing an additional 11,512 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Dime Community Bancshares by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company's stock valued at $659,000 after acquiring an additional 3,443 shares in the last quarter. Hedge funds and other institutional investors 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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