Wall Street analysts forecast that Dime Community Bancshares, Inc. (NASDAQ:DCOM) will announce $0.33 earnings per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Dime Community Bancshares’ earnings. Dime Community Bancshares reported earnings of $0.29 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.8%. The firm is expected to announce its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Dime Community Bancshares will report full year earnings of $1.30 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will report earnings of $1.50 per share. Zacks Investment Research’s EPS averages are an 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 (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $39.80 million for the quarter. Dime Community Bancshares had a return on equity of 8.04% and a net margin of 16.23%.
Several research firms have commented on DCOM. BidaskClub cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Barclays PLC reissued an “underweight” rating and set a $20.00 target price (up previously from $19.00) on shares of Dime Community Bancshares in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $20.50 to $22.50 in a research report on Tuesday, May 9th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $21.50.
Dime Community Bancshares (NASDAQ:DCOM) traded up 2.90% during mid-day trading on Friday, reaching $19.50. The company’s stock had a trading volume of 125,460 shares. The firm has a 50 day moving average price of $20.05 and a 200 day moving average price of $20.33. The company has a market cap of $730.20 million, a price-to-earnings ratio of 21.33 and a beta of 0.77. Dime Community Bancshares has a 52-week low of $16.10 and a 52-week high of $22.48.
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 given a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 annualized dividend and a dividend yield of 2.87%. Dime Community Bancshares’s dividend payout ratio is currently 60.22%.
Several institutional investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. boosted its position in Dime Community Bancshares by 10.0% in the second quarter. Cornerstone Capital Management Holdings LLC. now owns 198,235 shares of the savings and loans company’s stock valued at $3,885,000 after buying an additional 18,100 shares in the last quarter. Ulysses Management LLC boosted its position in Dime Community Bancshares by 241.1% in the second quarter. Ulysses Management LLC now owns 100,000 shares of the savings and loans company’s stock valued at $1,960,000 after buying an additional 70,679 shares in the last quarter. Voya Investment Management LLC boosted its position in Dime Community Bancshares by 8.0% in the second quarter. Voya Investment Management LLC now owns 21,285 shares of the savings and loans company’s stock valued at $417,000 after buying an additional 1,575 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Dime Community Bancshares by 8.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,799,743 shares of the savings and loans company’s stock valued at $54,875,000 after buying an additional 208,581 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in Dime Community Bancshares during the second quarter valued at approximately $200,000. 67.30% of the stock is currently owned by hedge funds and other institutional investors.
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Dime Community Bancshares Company Profile
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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