Dime Community Bancshares, Inc. Declares Quarterly Dividend of $0.25 (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) declared a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, April 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Thursday, April 17th.

Dime Community Bancshares has increased its dividend payment by an average of 1.4% per year over the last three years. Dime Community Bancshares has a payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Stock Up 0.8 %

Dime Community Bancshares stock traded up $0.23 during mid-day trading on Monday, hitting $27.88. The company's stock had a trading volume of 180,980 shares, compared to its average volume of 252,758. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares has a 52-week low of $17.49 and a 52-week high of $37.60. The firm's 50 day moving average is $30.09 and its 200 day moving average is $31.03. The company has a market cap of $1.22 billion, a PE ratio of 47.26 and a beta of 1.04.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. On average, analysts anticipate that Dime Community Bancshares will post 3.06 earnings per share for the current year.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DCOM shares. Piper Sandler upgraded shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $36.00 to $38.00 in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their target price on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

Insider Activity

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 3,000 shares of the firm's 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 in the company, valued at $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the business's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total value of $306,228.00. Following the completion of the sale, the director now directly owns 37,147 shares of the company's stock, valued at $1,158,986.40. This represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,729 shares of company stock worth $48,021. 9.10% of the stock is owned by corporate insiders.

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.