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

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) posted its quarterly earnings results on Tuesday. The savings and loans company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02, Zacks reports. The firm had revenue of $103.83 million during the quarter, compared to analysts' expectations of $105.83 million. Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. During the same quarter in the previous year, the business earned $0.38 earnings per share.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM traded down $0.40 during trading on Friday, hitting $25.62. The company's stock had a trading volume of 243,804 shares, compared to its average volume of 262,517. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 43.42 and a beta of 0.96. The company has a 50-day moving average of $27.49 and a 200-day moving average of $30.62. Dime Community Bancshares has a 12 month low of $17.49 and a 12 month high of $37.60.

Dime Community Bancshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.3438 per share. This represents a $1.38 annualized dividend and a dividend yield of 5.37%. This is a positive change from Dime Community Bancshares's previous quarterly dividend of $0.25. Dime Community Bancshares's dividend payout ratio is presently 158.73%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DCOM. Piper Sandler raised Dime Community Bancshares from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Stephens reduced their price target on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods lowered their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Finally, StockNews.com raised shares of Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $36.88.

Insider Activity at Dime Community Bancshares

In other news, 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 transaction of $93,750.00. Following the transaction, the director now directly owns 41,185 shares of the company's stock, valued at $1,287,031.25. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 purchased at an average cost of $31.23 per share, with a total value of $32,572.89. Following the completion of the acquisition, the director now directly owns 1,043 shares in the company, valued at $32,572.89. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 1,729 shares of company stock worth $48,021. 7.10% of the stock is 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.