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

Dime Community Bancshares (NASDAQ:DCOM) issued its quarterly earnings results 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 net margin of 9.65% and a return on equity of 5.58%.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $31.75 on Thursday. The company has a market cap of $1.24 billion, a P/E ratio of 21.17 and a beta of 1.05. Dime Community Bancshares has a one year low of $17.29 and a one year high of $37.60. The business has a fifty day moving average of $33.16 and a two-hundred day moving average of $28.87. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Shareholders of record on Friday, January 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, January 17th. Dime Community Bancshares’s payout ratio is 66.67%.

Analysts Set New Price Targets

Several research analysts have weighed in on DCOM shares. Keefe, Bruyette & Woods lifted their target price 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 lifted their price objective for the company from $30.00 to $39.00 in a research report on Monday, November 18th. Finally, Raymond James upped their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.20.

Insider Transactions at Dime Community Bancshares

In other news, CTO Michael Fegan sold 2,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 20,155 shares of the company’s stock, valued at $720,742.80. The trade was a 9.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Basswood Capital Management, L purchased 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 acquisition, the director now owns 1,044,221 shares in the company, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 9.10% of the company’s stock.

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.