Dime Community Bancshares (NASDAQ:DCOM) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) posted its quarterly earnings data on Tuesday. The savings and loans company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.02, Zacks reports. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. The company had revenue of $103.83 million during the quarter, compared to the consensus estimate of $105.83 million. During the same quarter in the prior year, the company posted $0.38 EPS.

Dime Community Bancshares Stock Down 1.5 %

Shares of NASDAQ DCOM traded down $0.40 on Friday, hitting $25.62. The company had a trading volume of 243,804 shares, compared to its average volume of 262,107. The firm has a market capitalization of $1.12 billion, a P/E ratio of 43.42 and a beta of 0.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares has a 12-month low of $17.49 and a 12-month high of $37.60. The business has a 50 day moving average of $27.49 and a two-hundred day moving average of $30.60.

Dime Community Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be paid a dividend of $0.3438 per share. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.37%. This is a boost from Dime Community Bancshares's previous quarterly dividend of $0.25. Dime Community Bancshares's payout ratio is currently 158.73%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DCOM shares. Piper Sandler raised shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price target on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. StockNews.com upgraded Dime Community Bancshares from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Stephens decreased their target price on Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a report on Wednesday. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $36.88.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total transaction of $306,228.00. Following the sale, the director now directly owns 37,147 shares of the company's stock, valued at approximately $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the company'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 owns 41,185 shares of the company's stock, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 1,729 shares of company stock valued at $48,021. Corporate insiders own 7.10% of the company's stock.

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.