Dime Community Bancshares (NASDAQ:DCOM) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Key Points

• Dime Community Bancshares shares exceeded their 200-day moving average, last trading at $30.52, indicating positive momentum in the stock's performance.
• The company reported $0.64 earnings per share for the latest quarter, surpassing analyst expectations and reflecting a year-over-year increase from $0.37 EPS.
• A quarterly dividend of $0.25 was recently declared, with a yield of 3.3%, although the dividend payout ratio is notably high at 119.05%.

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.65 and traded as high as $31.44. Dime Community Bancshares shares last traded at $30.52, with a volume of 184,602 shares changing hands.

Dime Community Bancshares Price Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 36.33 and a beta of 1.15. The company has a 50-day moving average of $29.42 and a 200-day moving average of $27.65. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The firm had revenue of $109.54 million for the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.37 EPS. As a group, equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.3%. Dime Community Bancshares's dividend payout ratio (DPR) is presently 119.05%.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 9,000 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $30.33, for a total transaction of $272,970.00. Following the transaction, the director owned 1,034,158 shares in the company, valued at approximately $31,366,012.14. The trade was a 0.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 1,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $30.92, for a total value of $30,920.00. Following the transaction, the director owned 38,185 shares in the company, valued at $1,180,680.20. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 7.10% of the company's stock.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. Wellington Management Group LLP acquired a new position in Dime Community Bancshares during the 4th quarter worth approximately $39,073,000. T. Rowe Price Investment Management Inc. increased its position in Dime Community Bancshares by 16.9% during the 1st 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 purchasing an additional 340,046 shares during the period. CSM Advisors LLC acquired a new position in Dime Community Bancshares during the 2nd quarter worth approximately $6,302,000. Penn Capital Management Company LLC increased its position in Dime Community Bancshares by 44.2% during the 1st quarter. Penn Capital Management Company LLC now owns 472,415 shares of the savings and loans company's stock worth $13,205,000 after purchasing an additional 144,856 shares during the period. Finally, Brown Advisory Inc. increased its position in Dime Community Bancshares by 13.1% during the 2nd quarter. Brown Advisory Inc. now owns 1,129,067 shares of the savings and loans company's stock worth $30,417,000 after purchasing an additional 131,087 shares during the period. Institutional investors and hedge funds 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.

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