Dime Community Bancshares, Inc. to Issue Quarterly Dividend of $0.25 (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Stockholders of record on Thursday, April 17th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, April 24th. This represents a $1.00 annualized dividend and a dividend yield of 3.54%.

Dime Community Bancshares has raised its dividend payment by an average of 1.4% annually over the last three years. Dime Community Bancshares has a payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Stock Performance

DCOM stock traded up $0.04 during trading on Thursday, hitting $28.23. The company had a trading volume of 169,187 shares, compared to its average volume of 242,502. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The firm has a market cap of $1.23 billion, a PE ratio of 47.85 and a beta of 1.04. The firm has a 50-day moving average price of $30.33 and a 200-day moving average price of $30.92. Dime Community Bancshares has a 1-year low of $17.49 and a 1-year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. On average, analysts expect that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Insiders Place Their Bets

In related news, Director Basswood Capital Management, L sold 9,815 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total transaction of $306,228.00. Following the transaction, the director now directly owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the transaction, the director now owns 41,185 shares of the company’s stock, valued at $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 1,729 shares of company stock worth $48,021 over the last three months. 9.10% of the stock is owned by insiders.

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.