Dime Community Bancshares (NASDAQ:DCOM) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Dime Community Bancshares (NASDAQ:DCOM) posted its earnings results on Thursday. The savings and loans company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06), Zacks reports. Dime Community Bancshares had a return on equity of 7.81% and a net margin of 8.72%.The business had revenue of $103.40 million for the quarter, compared to analyst estimates of $112.75 million. During the same quarter in the prior year, the business earned $0.29 earnings per share.

Dime Community Bancshares Stock Up 1.5%

Shares of NASDAQ DCOM opened at $27.84 on Friday. The company has a market capitalization of $1.22 billion, a P/E ratio of 24.42 and a beta of 1.10. Dime Community Bancshares has a 52-week low of $23.25 and a 52-week high of $37.60. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.03. The company’s 50 day moving average price is $29.98 and its 200-day moving average price is $27.97.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 17th were given a $0.25 dividend. The ex-dividend date was Friday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. Dime Community Bancshares’s payout ratio is 87.72%.

Insider Buying and Selling

In other news, Director Raymond A. Nielsen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $30.92, for a total value of $30,920.00. Following the transaction, the director owned 38,185 shares in the company, valued at approximately $1,180,680.20. The trade was a 2.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Basswood Capital Management, L sold 9,000 shares of Dime Community Bancshares stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $30.33, for a total transaction of $272,970.00. Following the completion of the sale, the director owned 1,034,158 shares of the company’s stock, valued at $31,366,012.14. This represents a 0.86% decrease in their position. The disclosure for this sale can be found here. 7.10% of the stock is currently owned by insiders.

Institutional Trading of Dime Community Bancshares

Several hedge funds have recently modified their holdings of DCOM. Tower Research Capital LLC TRC increased its stake 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 valued at $156,000 after acquiring an additional 4,446 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at $264,000. Quantinno Capital Management LP increased its stake in shares of Dime Community Bancshares by 28.6% in the 2nd quarter. Quantinno Capital Management LP now owns 12,286 shares of the savings and loans company’s stock valued at $331,000 after acquiring an additional 2,731 shares in the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at $348,000. Finally, Osaic Holdings Inc. increased its stake in shares of Dime Community Bancshares by 1,142.7% in the 2nd quarter. Osaic Holdings Inc. now owns 14,216 shares of the savings and loans company’s stock valued at $383,000 after acquiring an additional 13,072 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Friday. Zacks Research downgraded shares of Dime Community Bancshares from a “hold” rating to a “strong sell” rating in a research report on Thursday. Finally, DA Davidson upgraded shares of Dime Community Bancshares to a “strong-buy” rating in a research report on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Dime Community Bancshares has a consensus rating of “Moderate Buy” and an average target price of $37.17.

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.