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

by · The Markets Daily

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) declared a quarterly dividend on Wednesday, December 17th. Investors of record on Friday, January 16th will be given a dividend of 0.25 per share by the savings and loans company on Friday, January 23rd. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, January 16th.

Dime Community Bancshares has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Dime Community Bancshares has a payout ratio of 26.7% indicating that 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 Stock Performance

NASDAQ:DCOM traded up $0.32 during trading hours on Thursday, reaching $32.16. The stock had a trading volume of 15,417 shares, compared to its average volume of 262,222. The stock has a market cap of $1.41 billion, a P/E ratio of 28.15 and a beta of 1.12. The stock has a 50 day simple moving average of $28.31 and a 200 day simple moving average of $28.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.03 and a current ratio of 1.03. Dime Community Bancshares has a 12-month low of $23.25 and a 12-month high of $34.00.

Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The savings and loans company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). Dime Community Bancshares had a net margin of 8.72% and a return on equity of 7.81%. The firm had revenue of $116.67 million for the quarter, compared to analysts’ expectations of $112.75 million. During the same period in the prior year, the company earned $0.29 EPS. On average, research analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 2,200 shares of Dime Community Bancshares stock in a transaction on Friday, October 31st. The shares were sold at an average price of $26.29, for a total value of $57,838.00. Following the transaction, the director directly owned 33,985 shares of the company’s stock, valued at $893,465.65. The trade was a 6.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Basswood Capital Management, L purchased 20,537 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were purchased at an average price of $26.26 per share, with a total value of $539,301.62. Following the completion of the acquisition, the director directly owned 1,034,158 shares in the company, valued at $27,156,989.08. The trade was a 2.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 4,695 shares of company stock worth $125,809 in the last 90 days. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC grew its stake in shares of Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in Dime Community Bancshares during the 2nd quarter valued at approximately $97,000. GAMMA Investing LLC lifted its holdings in Dime Community Bancshares by 15.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company’s stock worth $133,000 after buying an additional 584 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after buying an additional 4,446 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Dime Community Bancshares in the 3rd quarter worth approximately $169,000. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Company Profile

(Get Free Report)

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.

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