Dime Community Bancshares (DCOM) Set to Announce Quarterly Earnings on Tuesday

Dime Community Bancshares (NASDAQ:DCOM) will be announcing its earnings results before the market opens on Tuesday, April 23rd. Analysts expect the company to announce earnings of $0.37 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The business had revenue of $167.63 million during the quarter, compared to analysts’ expectations of $81.01 million. Dime Community Bancshares had a net margin of 14.89% and a return on equity of 9.85%. During the same quarter last year, the business posted $0.99 earnings per share. On average, analysts expect Dime Community Bancshares to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Dime Community Bancshares Stock Down 0.9 %

Shares of DCOM stock opened at $18.35 on Tuesday. The stock’s 50-day simple moving average is $18.71 and its 200-day simple moving average is $21.10. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.07. The firm has a market capitalization of $713.41 million, a PE ratio of 8.01 and a beta of 1.02. Dime Community Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $27.91.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Wednesday, April 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date is Tuesday, April 16th. Dime Community Bancshares’s dividend payout ratio is presently 43.67%.

Insider Buying and Selling

In related news, Director Basswood Capital Management, L acquired 27,068 shares of Dime Community Bancshares stock in a transaction that occurred on Wednesday, January 31st. The shares were purchased at an average price of $23.00 per share, for a total transaction of $622,564.00. Following the completion of the transaction, the director now owns 1,015,221 shares in the company, valued at approximately $23,350,083. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Several large investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of Dime Community Bancshares by 4.7% in the 2nd quarter. BlackRock Inc. now owns 5,529,621 shares of the savings and loans company’s stock valued at $97,487,000 after purchasing an additional 245,984 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Dime Community Bancshares by 0.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,214,786 shares of the savings and loans company’s stock valued at $95,318,000 after purchasing an additional 10,189 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Dime Community Bancshares by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,626,037 shares of the savings and loans company’s stock valued at $59,663,000 after purchasing an additional 58,228 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Dime Community Bancshares by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 2,459,856 shares of the savings and loans company’s stock valued at $66,244,000 after purchasing an additional 90,575 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Dime Community Bancshares by 15.3% in the 2nd quarter. State Street Corp now owns 1,506,989 shares of the savings and loans company’s stock valued at $26,568,000 after purchasing an additional 199,889 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analysts Set New Price Targets

DCOM has been the topic of a number of research reports. Keefe, Bruyette & Woods cut their price objective on Dime Community Bancshares from $30.00 to $25.50 and set an “outperform” rating on the stock in a report on Friday, April 5th. DA Davidson reissued a “buy” rating and issued a $28.00 price objective on shares of Dime Community Bancshares in a report on Thursday, March 14th. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Finally, Raymond James decreased their target price on Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares has an average rating of “Moderate Buy” and a consensus price target of $25.88.

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.