Dime Community Bancshares, Inc. (NASDAQ:DCOM) Plans $0.25 Quarterly Dividend

Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced a quarterly dividend on Thursday, March 27th, RTT News reports. Investors 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 yield of 3.62%. The ex-dividend date is Thursday, April 17th.

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% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ DCOM opened at $27.65 on Friday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 46.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares has a 1-year low of $17.49 and a 1-year high of $37.60. The business has a 50-day moving average of $30.17 and a 200-day moving average of $30.92.

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

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 9,815 shares of the company’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 sale, the director now owns 37,147 shares in the company, valued at $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the completion of the transaction, the director now owns 41,185 shares of the company’s stock, valued at approximately $1,287,031.25. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased 1,729 shares of company stock worth $48,021 in the last ninety days. 9.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DCOM has been the subject of a number of analyst reports. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price target on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

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.