Dime Community Bancshares (NASDAQ:DCOM) Releases Earnings Results, Beats Estimates By $0.01 EPS

Dime Community Bancshares (NASDAQ:DCOM) released its earnings results on Tuesday. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01, Zacks reports. Dime Community Bancshares had a return on equity of 6.62% and a net margin of 9.98%. The firm had revenue of $171.23 million for the quarter, compared to analysts’ expectations of $82.19 million. During the same quarter in the previous year, the business posted $0.68 earnings per share.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $23.95 on Thursday. The stock’s 50 day moving average is $19.92 and its 200 day moving average is $20.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $933.33 million, a P/E ratio of 13.46 and a beta of 1.01. Dime Community Bancshares has a one year low of $17.29 and a one year high of $27.91.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Wednesday, July 17th. Dime Community Bancshares’s dividend payout ratio is currently 56.18%.

Wall Street Analysts Forecast Growth

DCOM has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $25.50 target price on shares of Dime Community Bancshares in a research report on Friday, June 28th. Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Tuesday. Finally, StockNews.com upgraded Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

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.