Equities analysts predict that Dime Community Bancshares, Inc. (NASDAQ:DCOM) will announce earnings of $0.33 per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Dime Community Bancshares’ earnings. Dime Community Bancshares posted earnings of $0.29 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.8%. The firm is expected to report its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Dime Community Bancshares will report full-year earnings of $1.30 per share for the current financial year. For the next year, analysts anticipate that the business will post earnings of $1.50 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Dime Community Bancshares.
Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $39.80 million during the quarter. Dime Community Bancshares had a net margin of 16.23% and a return on equity of 8.04%.
DCOM has been the subject of a number of recent research reports. Barclays PLC reiterated an “underweight” rating and issued a $20.00 target price (up from $19.00) on shares of Dime Community Bancshares in a report on Wednesday, July 12th. BidaskClub downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Piper Jaffray Companies upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $20.50 to $22.50 in a report on Tuesday, May 9th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Dime Community Bancshares has a consensus rating of “Hold” and a consensus price target of $21.50.
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A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Dime Community Bancshares by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,989,172 shares of the savings and loans company’s stock worth $60,680,000 after buying an additional 50,236 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Dime Community Bancshares by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,591,162 shares of the savings and loans company’s stock worth $52,600,000 after buying an additional 179,083 shares in the last quarter. LSV Asset Management increased its position in shares of Dime Community Bancshares by 17.5% in the second quarter. LSV Asset Management now owns 1,067,443 shares of the savings and loans company’s stock worth $20,921,000 after buying an additional 159,121 shares in the last quarter. State Street Corp increased its position in shares of Dime Community Bancshares by 9.6% in the first quarter. State Street Corp now owns 831,409 shares of the savings and loans company’s stock worth $16,877,000 after buying an additional 72,853 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Dime Community Bancshares by 1.6% in the second quarter. Russell Investments Group Ltd. now owns 642,780 shares of the savings and loans company’s stock worth $12,592,000 after buying an additional 10,400 shares in the last quarter. Institutional investors and hedge funds own 66.81% of the company’s stock.
Shares of Dime Community Bancshares (DCOM) opened at 19.45 on Friday. Dime Community Bancshares has a 1-year low of $16.10 and a 1-year high of $22.48. The firm’s 50-day moving average is $20.06 and its 200-day moving average is $20.34. The company has a market capitalization of $728.32 million, a price-to-earnings ratio of 21.28 and a beta of 0.77.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.14 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.88%. Dime Community Bancshares’s dividend payout ratio is presently 60.22%.
About Dime Community Bancshares
Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.
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