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

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly earnings data on Thursday. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02), Zacks reports. Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%.

Dime Community Bancshares Trading Down 2.4 %

DCOM opened at $31.00 on Friday. The firm’s fifty day moving average is $33.16 and its two-hundred day moving average is $28.87. The firm has a market cap of $1.21 billion, a PE ratio of 20.67 and a beta of 1.05. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $37.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Friday, January 17th. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Insider Buying and Selling

In other Dime Community Bancshares news, CTO Michael Fegan sold 2,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the completion of the sale, the chief technology officer now directly owns 20,155 shares in the company, valued at $720,742.80. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Basswood Capital Management, L acquired 29,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the acquisition, the director now directly owns 1,044,221 shares in the company, valued at $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DCOM has been the topic of several research reports. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $39.00 in a research report on Monday, November 18th. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $38.00 in a report on Thursday. Finally, Raymond James lifted 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 report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average target price of $36.60.

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.