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

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) declared a quarterly dividend on Thursday, June 30, Zacks reports. Investors of record on Monday July 18 will receive a dividend of 0.24 per share from the savings and loan company on Monday July 25. This represents an annualized dividend of $0.96 and a dividend yield of 3.19%. The ex-dividend date is Friday, July 15.

Dime Community Bancshares has increased its dividend payout by an average of 28.9% per year over the past three years and has increased its dividend every year for the past 1 years. Dime Community Bancshares has a dividend payout ratio of 26.3%, meaning its dividend is sufficiently covered by earnings. Stock analysts expect Dime Community Bancshares to earn $3.64 per share next year, meaning the company should continue to be able to cover its annual dividend of $0.96 with a ratio of expected future payout of 26.4%.

Shares of Dime Community Bancshares opened at $30.14 on Friday. The company has a debt ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $1.18 billion, a PE ratio of 8.08 and a beta of 1.06. Dime Community Bancshares has a one-year low of $28.36 and a one-year high of $38.35. The company has a 50-day simple moving average of $30.75 and a 200-day simple moving average of $33.42.

Dime Community Bancshares (NASDAQ:DCOM – Get Rating) last released its results on Friday, April 29. The savings and loan company reported EPS of $0.82 for the quarter, missing the consensus estimate of $0.85 per ($0.03). The company posted revenue of $96.31 million for the quarter, versus a consensus estimate of $100.15 million. Dime Community Bancshares had a return on equity of 14.40% and a net margin of 35.58%. In the same quarter last year, the company achieved EPS of $0.94. Stock analysts expect Dime Community Bancshares to post earnings per share of 3.41 for the current fiscal year.

DCOM has been the subject of several analyst reports. Piper Sandler cut her price target on Dime Community Bancshares from $40.00 to $37.00 and set an “overweight” rating for the company in a Friday, June 3 research report. Stephens moved Dime Community Bancshares from an “overweight” rating to an “equal weight” rating and lowered its price target for the company from $36.00 to $34.50 in a Monday, May 16 report. Finally, StockNews.com took over coverage from Dime Community Bancshares in a Thursday, March 31 report. They set a “hold” rating for the company.

In related news, Basswood Capital Management director L sold 23,746 shares of the company in a trade on Monday, May 16. The stock was sold at an average price of $29.40, for a total transaction of $698,132.40. Following the completion of the sale, the director now directly owns 75,698 shares of the company, valued at approximately $2,225,521.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Insiders sold a total of 161,760 shares of the company valued at $4,957,812 over the past ninety days. Insiders hold 15.30% of the shares of the company.

Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. Raymond James Financial Services Advisors Inc. increased its holding in shares of Dime Community Bancshares by 12.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,572 shares of the savings and loan company valued at $227,000 after purchasing an additional 707 shares during the period. Point72 Hong Kong Ltd increased its equity stake in Dime Community Bancshares by 1,225.8% in Q1. Point72 Hong Kong Ltd now owns 1,750 shares in the savings and loan company valued at $60,000 after buying an additional 1,618 shares during the period. First Trust Advisors LP increased its equity stake in Dime Community Bancshares by 10.2% in Q1. First Trust Advisors LP now owns 20,679 shares of the savings and loan company valued at $715,000 after purchasing an additional 1,906 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its equity stake in Dime Community Bancshares by 12.4% in Q1. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,191 shares of the savings and loan company valued at $975,000 after purchasing 3,119 additional shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Dime Community Bancshares by 60.8% in the 1st quarter. Hsbc Holdings PLC now owns 9,493 shares in the savings and loan company valued at $329,000 after purchasing an additional 3,591 shares during the period. 72.30% of the shares are held by institutional investors.

About Dime Community Bancshares (Get a rating)

Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank which provides various commercial banking and financial services. It accepts term, savings and demand deposits from businesses, consumers and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.

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Dividend history for Dime Community Bancshares (NASDAQ: DCOM)

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