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

Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, September 26th, Zacks reports. Shareholders of record on Thursday, October 17th will be paid a dividend of 0.25 per share by the savings and loans company on Thursday, October 24th. This represents a $1.00 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, October 17th.

Dime Community Bancshares has increased its dividend by an average of 1.0% annually over the last three years. Dime Community Bancshares has a payout ratio of 37.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dime Community Bancshares to earn $2.67 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 37.5%.

Dime Community Bancshares Stock Up 0.4 %

NASDAQ:DCOM traded up $0.10 on Friday, hitting $28.09. The stock had a trading volume of 180,608 shares, compared to its average volume of 227,634. The business’s fifty day moving average is $24.98 and its 200 day moving average is $21.23. The company has a market cap of $1.09 billion, a PE ratio of 15.78 and a beta of 1.00. The company has a quick ratio of 1.02, a current 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 $30.12.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 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 prior year, the company earned $0.68 earnings per share. On average, equities research analysts expect that Dime Community Bancshares will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on DCOM shares. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Raymond James raised Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $29.00 to $35.00 in a research note on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods increased their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

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.