Dime Community Bancshares, Inc. (NASDAQ:DCOM) to Issue Quarterly Dividend of $0.24

Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, September 30th, Zacks reports. Stockholders of record on Monday, October 18th will be given a dividend of 0.24 per share by the savings and loans company on Monday, October 25th. This represents a $0.96 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Friday, October 15th.

Dime Community Bancshares has a dividend payout ratio of 24.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Dime Community Bancshares to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 25.2%.

DCOM opened at $34.70 on Wednesday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 21.16 and a beta of 1.17. The company has a current ratio of 0.97, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. Dime Community Bancshares has a 12 month low of $18.24 and a 12 month high of $35.87. The stock has a fifty day moving average price of $32.90 and a 200-day moving average price of $33.00.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Thursday, July 29th. The savings and loans company reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.14). The company had revenue of $122.80 million during the quarter, compared to the consensus estimate of $115.29 million. Dime Community Bancshares had a return on equity of 13.31% and a net margin of 16.58%. On average, equities research analysts forecast that Dime Community Bancshares will post 3.55 EPS for the current year.

In related news, Director Basswood Capital Management, L sold 27,014 shares of the company’s stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $32.80, for a total transaction of $886,059.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 139,696 shares of company stock worth $4,622,809 over the last ninety days. 16.40% of the stock is currently owned by corporate insiders.

An institutional investor recently raised its position in Dime Community Bancshares stock. Morgan Stanley grew its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 28.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,588 shares of the savings and loans company’s stock after purchasing an additional 42,158 shares during the period. Morgan Stanley owned approximately 0.46% of Dime Community Bancshares worth $6,375,000 at the end of the most recent quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.

Separately, Zacks Investment Research lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, July 9th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $39.83.

Dime Community Bancshares Company Profile

The largest community bank headquartered in Brooklyn, New York, chartered on April 19, 1864. The bank specializes in Commercial Mortgage finance in the NY Metro area and services depositors in 24 full service branches throughout Brooklyn, Queens, Nassau, and the Bronx.

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Dividend History for Dime Community Bancshares (NASDAQ:DCOM)

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