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

Dime Community Bancshares (NASDAQ:DCOM) posted its quarterly 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 business had revenue of $171.87 million for 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 firm posted $0.56 earnings per share.

Dime Community Bancshares Trading Up 0.9 %

DCOM stock traded up $0.26 during midday trading on Wednesday, hitting $29.43. 29,498 shares of the company’s stock were exchanged, compared to its average volume of 221,791. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $31.75. The business has a 50-day simple moving average of $26.84 and a two-hundred day simple moving average of $22.53. The stock has a market capitalization of $1.15 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 3.40%. Dime Community Bancshares’s payout ratio is 56.18%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DCOM. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, Raymond James boosted their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.