Dime Community Bancshares (NASDAQ:DCOM) Posts Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Dime Community Bancshares (NASDAQ:DCOM) announced its quarterly earnings results on Tuesday. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12), Yahoo Finance reports. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The firm had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. During the same period last year, the firm earned $0.56 EPS.

Dime Community Bancshares Stock Up 3.3 %

Shares of DCOM stock opened at $30.14 on Thursday. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 16.93 and a beta of 1.00. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $31.75. The firm’s 50-day moving average is $27.01 and its 200-day moving average is $22.58.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.32%. Dime Community Bancshares’s dividend payout ratio is 56.18%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Keefe, Bruyette & Woods upped their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James upped their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and an average price target of $29.50.

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.