Dime Community Bancshares, Inc. (NASDAQ: DCOM) to Issue Quarterly Dividend of $ 0.24
Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced a quarterly dividend on Thursday, September 30, Zacks reports. Investors registered on Monday October 18 will receive a dividend of 0.24 per share from the savings and loan company on Monday October 25. This represents a dividend of $ 0.96 on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday October 15.
Dime Community Bancshares has a dividend payout ratio of 23.9%, indicating that its dividend is sufficiently covered by earnings. Stock analysts expect Dime Community Bancshares to earn $ 3.41 per share next year, which means the company should continue to be able to cover its annual dividend of $ 0.86 with a rate of expected future distribution of 25.2%.
DCOM shares opened at $ 33.62 on Friday. Dime Community Bancshares has a one-year low at $ 17.27 and a one-year high at $ 35.87. The company has a debt ratio of 0.18, a current ratio of 0.97, and a quick ratio of 0.96. The company has a market cap of $ 1.38 billion, a PE ratio of 20.50 and a beta of 1.17. The company’s fifty-day moving average price is $ 32.72 and its 200-day moving average price is $ 32.86.
Dime Community Bancshares (NASDAQ: DCOM) last released its quarterly results on Thursday, July 29. The savings and loan company reported earnings of $ 0.91 per share for the quarter, missing the consensus estimate of $ 1.05 of ($ 0.14). Dime Community Bancshares recorded a return on equity of 13.31% and a net margin of 16.58%. The company posted revenue of $ 122.80 million for the quarter, compared to analysts’ estimates of $ 115.29 million. As a group, research analysts predict that Dime Community Bancshares will post 3.55 EPS for the current fiscal year.
In related news, Director Basswood Capital Management, L sold 100,000 shares of the company in a transaction dated Monday, August 23. The shares were sold at an average price of $ 33.10, for a total transaction of $ 3,310,000.00. The transaction was disclosed in a file with the SEC, accessible through this link. In the past three months, insiders have sold 139,696 shares of the company valued at $ 4,622,809. 16.40% of the shares are held by insiders.
A hedge fund recently increased its stake in shares of Dime Community Bancshares. Wells Fargo & Company MN increased its position in Dime Community Bancshares, Inc. (NASDAQ: DCOM) by 29.4% in the second quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission (SEC). The fund held 41,743 shares of the savings and loan company after purchasing an additional 9,496 shares during the period. Wells Fargo & Company MN owned approximately 0.10% of Dime Community Bancshares valued at $ 1,404,000 at the time of its last filing with the SEC. Hedge funds and other institutional investors hold 72.04% of the company’s shares.
Meanwhile, Zacks Investment Research downgraded Dime Community Bancshares shares from a “buy” rating to a “hold” rating in a research report released on Friday, July 9. One analyst assigned a conservation rating to the stock, two assigned a buy rating, and another assigned a high buy rating to the stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has a consensus rating of “Buy” and an average target price of $ 39.83.
About Dime Community Bancshares
The largest community bank headquartered in Brooklyn, New York, was established on April 19, 1864. The bank specializes in commercial mortgage financing in the New York metropolitan area and serves depositors at 24 service branches. full through Brooklyn, Queens, Nassau and the Bronx.
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