Dime Community Bancshares (NASDAQ:DCOM) Releases Earnings Results, Misses Estimates By $0.12 EPS

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) issued its earnings results on Tuesday. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12), Yahoo Finance reports. The firm had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. During the same quarter in the previous year, the business posted $0.56 EPS.

Dime Community Bancshares Stock Performance

Dime Community Bancshares stock traded up $0.97 during mid-day trading on Wednesday, hitting $30.14. 238,139 shares of the company's stock traded hands, compared to its average volume of 222,811. The firm has a 50 day moving average price of $27.01 and a 200 day moving average price of $22.58. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. The company has a market cap of $1.17 billion, a PE ratio of 16.93 and a beta of 1.00. Dime Community Bancshares has a one year low of $17.29 and a one year high of $31.75.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.32%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares's payout ratio is currently 56.18%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DCOM shares. Piper Sandler downgraded Dime Community Bancshares from an "overweight" rating to a "neutral" rating and raised their price target for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. StockNews.com downgraded Dime Community Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, September 21st. Keefe, Bruyette & Woods raised their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Raymond James raised their price target on 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $29.50.

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.