Dime Community Bancshares, Inc. (NASDAQ:DCOM) – DA Davidson released its first quarter 2022 earnings per share (EPS) estimates for Dime Community Bancshares in a research note released to investors on Tuesday, February 1. DA Davidson analyst Navas expects the savings and loan company to post earnings of $0.82 per share for the quarter. DA Davidson also released Dime Community Bancshares earnings estimates for fiscal year 2023 at $3.65 EPS. Dime Community Bancshares (NASDAQ:DCOM) last released its results on Friday, January 28. The savings and loan company reported earnings per share (EPS) of $0.83 for the quarter, missing Zacks’ consensus estimate of $0.86 per ($0.03). Dime Community Bancshares had a net margin of 24.37% and a return on equity of 14.31%. In the same quarter last year, the company earned $0.75 per share.
Separately, Zacks Investment Research downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Tuesday. One equity research analyst gave the stock a hold rating, two gave the company a buy rating and one gave the company a strong buy rating. According to data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Buy” and an average price target of $40.50.
Shares of Action Dime Community Bancshares opened at $34.70 on Wednesday. The company has a market capitalization of $1.40 billion, a PE ratio of 15.42 and a beta of 1.07. The company has a debt ratio of 0.21, a current ratio of 0.92 and a quick ratio of 0.92. The company’s fifty-day moving average price is $35.28 and its two-hundred-day moving average price is $34.36. Dime Community Bancshares has a 52-week low of $24.17 and a 52-week high of $38.35.
Several institutional investors and hedge funds have recently bought and sold shares of DCOM. William Blair Investment Management LLC increased its stake in Dime Community Bancshares by 398,870.6% in the third quarter. William Blair Investment Management LLC now owns 1,356,500 shares of the savings and loan company valued at $44,303,000 after purchasing an additional 1,356,160 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Dime Community Bancshares by 45.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,476,173 shares of the savings and loan company valued at $116,869,000 after acquiring 1,087,329 additional shares in the last quarter. Capital Management Corp VA increased its position in Dime Community Bancshares by 144.8% in the third quarter. Capital Management Corp VA now owns 164,870 shares of the savings and loan company valued at $5,385,000 after acquiring 97,518 additional shares in the last quarter. Goldman Sachs Group Inc. increased its position in Dime Community Bancshares by 177.6% in the third quarter. Goldman Sachs Group Inc. now owns 142,369 shares of the savings and loan company valued at $4,650,000 after acquiring 91,087 additional shares in the last quarter. Finally, New Jersey State Joint Pension Fund D bought a new position in Dime Community Bancshares in the third quarter, valued at around $2,622,000. 71.51% of the shares are held by institutional investors.
In related news, Basswood Capital Management director L sold 56,759 shares of the company in a trade on Monday, December 13. The shares were sold at an average price of $32.91, for a total value of $1,867,938.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Additionally, insider Christopher J. Porzelt sold 1,470 shares of the company in a trade on Thursday, December 2. The shares were sold at an average price of $35.11, for a total value of $51,611.70. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 71,113 shares of the company worth $2,357,803. Company insiders hold 16.40% of the company’s shares.
The company also recently announced a quarterly dividend, which was paid on Monday, January 24. Shareholders of record on Monday, January 17 received a dividend of $0.24 per share. The ex-dividend date was Thursday, January 13. This represents a dividend of $0.96 on an annualized basis and a yield of 2.77%. The Dime Community Bancshares payout ratio is currently 42.67%.
About Dime Community Bancshares
The largest community bank headquartered in Brooklyn, New York, was established on April 19, 1864. The bank specializes in commercial mortgage financing in the New York metropolitan area and serves depositors through 24 full-service branches in Brooklyn, Queens, Nassau and the Bronx.
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