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

Dime Community Bancshares (NASDAQ:DCOM) released its earnings results on Tuesday. The savings and loans company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12), Yahoo Finance reports. The firm had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter last year, the firm posted $0.56 EPS.

Dime Community Bancshares Trading Up 1.9 %

Shares of Dime Community Bancshares stock traded up $0.55 on Wednesday, hitting $29.72. 42,668 shares of the company traded hands, compared to its average volume of 221,805. The company has a market cap of $1.16 billion, a PE ratio of 16.53 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $31.75. The stock’s 50 day moving average price is $26.84 and its 200-day moving average price is $22.53.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.36%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James increased their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and a consensus 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.