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

Dime Community Bancshares, Inc. (NASDAQ:DCOM) announced a quarterly dividend on Thursday, September 26th, Zacks reports. Stockholders 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 dividend yield of 3.27%. The ex-dividend date is Thursday, October 17th.

Dime Community Bancshares has increased its dividend payment by an average of 1.0% per year 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 Performance

Shares of DCOM opened at $30.60 on Wednesday. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $31.57. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 17.19 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $26.02 and a 200 day simple moving average of $22.10.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The company had revenue of $171.23 million during the quarter, compared to analysts’ expectations of $82.19 million. During the same quarter in the previous year, the business posted $0.68 earnings per share. Research analysts forecast that Dime Community Bancshares will post 1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on DCOM. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Raymond James boosted their price target on Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods increased their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

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.