Dime Community Bancshares, Inc. (DCOM) to Distribute Quarterly Dividend of $0.25 on October 23rd

Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, September 24th. Investors of record on Friday, October 16th will be paid a dividend of $0.25 per share by the savings and loans company on Friday, October 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, October 16th.

Dime Community Bancshares has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 2 years. Dime Community Bancshares has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dime Community Bancshares to earn $3.98 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 25.1%.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $40.37 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The business’s fifty day moving average price is $40.55 and its two-hundred day moving average price is $38.08. The stock has a market cap of $1.78 billion, a PE ratio of 17.10 and a beta of 0.99. Dime Community Bancshares has a one year low of $25.63 and a one year high of $41.97.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.The company had revenue of $128.41 million during the quarter, compared to analysts’ expectations of $123.46 million. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Insider Transactions at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.73, for a total transaction of $75,114.00. Following the sale, the director owned 32,400 shares in the company, valued at approximately $1,352,052. This trade represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00. Following the completion of the sale, the director directly owned 6,099 shares of the company’s stock, valued at $252,498.60. The trade was a 54.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 134,595 shares of company stock valued at $5,506,229. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Several hedge funds have recently made changes to their positions in DCOM. BlackRock Inc. acquired a new position in Dime Community Bancshares in the second quarter valued at $251,937,000. Dimensional Fund Advisors LP grew its holdings in Dime Community Bancshares by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock valued at $79,602,000 after buying an additional 23,035 shares during the period. Basswood Capital Management L.L.C. acquired a new position in shares of Dime Community Bancshares during the 2nd quarter valued at about $79,106,000. Verition Fund Management LLC lifted its holdings in shares of Dime Community Bancshares by 19.8% during the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock worth $18,027,000 after acquiring an additional 99,011 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Dime Community Bancshares during the 2nd quarter worth about $18,911,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the holding company for Dime Community Bank, a commercial bank serving businesses, homeowners and consumers in the New York metropolitan area. The company is headquartered in Hauppauge, New York, and operates branches primarily across Long Island and in the boroughs of Brooklyn and Queens.

Dime Community Bank provides deposit accounts, commercial and residential real estate lending, commercial and industrial loans, consumer lending, cash-management services and other banking products.