Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) posted its quarterly earnings results on Thursday. 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), Zacks reports. Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%.
Dime Community Bancshares Stock Performance
DCOM stock traded down $0.75 during midday trading on Thursday, hitting $31.00. The company's stock had a trading volume of 979,126 shares, compared to its average volume of 370,208. Dime Community Bancshares has a 1 year low of $17.29 and a 1 year high of $37.60. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 20.67 and a beta of 1.05. The stock's 50-day moving average price is $33.16 and its 200 day moving average price is $28.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68.
Dime Community Bancshares Announces Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. Dime Community Bancshares's dividend payout ratio (DPR) is currently 66.67%.
Insider Activity
In other news, CTO Michael Fegan sold 2,000 shares of the company's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the transaction, the chief technology officer now owns 20,155 shares of the company's stock, valued at $720,742.80. This represents a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Basswood Capital Management, L acquired 29,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the purchase, the director now directly owns 1,044,221 shares in the company, valued at $33,415,072. This trade represents a 2.86 % increase in their position. The disclosure for this purchase can be found here. Insiders own 9.10% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently weighed in on DCOM shares. Stephens upgraded shares of Dime Community Bancshares from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $30.00 to $39.00 in a report on Monday, November 18th. Raymond James lifted their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a "strong-buy" rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price objective on shares of Dime Community Bancshares from $38.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $36.00 to $38.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dime Community Bancshares has an average rating of "Moderate Buy" and an average price target of $36.60.
Check Out Our Latest Research Report on DCOM
About Dime Community Bancshares
(
Get Free Report)
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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