Dime Community Bancshares (NASDAQ:DCOM) Issues Quarterly Earnings Results

Dime Community Bancshares (NASDAQ:DCOM) released its quarterly earnings results on Tuesday. The savings and loans company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01, Zacks reports. Dime Community Bancshares had a return on equity of 6.62% and a net margin of 9.98%. The firm had revenue of $171.23 million during the quarter, compared to analysts’ expectations of $82.19 million. During the same period last year, the firm posted $0.68 EPS.

Dime Community Bancshares Stock Down 0.6 %

NASDAQ:DCOM traded down $0.15 during trading hours on Thursday, reaching $23.80. 153,304 shares of the stock were exchanged, compared to its average volume of 229,978. The stock has a market cap of $927.49 million, a PE ratio of 13.46 and a beta of 1.01. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $27.91. The firm has a 50 day moving average of $19.92 and a 200 day moving average of $20.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date was Wednesday, July 17th. Dime Community Bancshares’s dividend payout ratio is presently 56.18%.

Analyst Upgrades and Downgrades

DCOM has been the topic of several recent research reports. StockNews.com raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price target for the company from $23.00 to $26.00 in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dime Community Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

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.