Analysts expect Dime Community Bancshares, Inc. (NASDAQ: DCOM) to report $ 100.18 million in sales for the current quarter, Zacks investment research reports. Two analysts have released earnings estimates for Dime Community Bancshares, with estimates ranging from $ 99.36 million to $ 101.00 million. Dime Community Bancshares reported sales of $ 47.50 million in the same quarter last year, indicating a positive year-over-year growth rate of 110.9%. The company is expected to release its next quarterly results on Tuesday, October 26.
According to Zacks, analysts expect Dime Community Bancshares to record annual sales of $ 393.69 million for the current year, with estimates ranging from $ 390.98 million to $ 396.40 million . For next year, analysts predict the company will post sales of $ 415.24 million, with estimates ranging from $ 408.27 million to $ 422.20 million. Zacks’ sales calculations are an average based on a survey of seller-side research companies that cover Dime Community Bancshares.
Dime Community Bancshares (NASDAQ: DCOM) last released its quarterly earnings data on Thursday, July 29. The savings and loan company reported earnings per share (EPS) of $ 0.91 for the quarter, missing the Thomson Reuters consensus estimate of $ 1.05 ($ 0.14). Dime Community Bancshares recorded a return on equity of 13.31% and a net margin of 16.58%. The company posted revenue of $ 122.80 million for the quarter, compared to the consensus estimate of $ 115.29 million.
Separately, Zacks investment research downgraded Dime Community Bancshares shares from a â€œbuyâ€ rating to a â€œholdâ€ rating in a research report released on Friday, July 9. One analyst rated the stock with a conservation rating, two gave the company a buy rating, and one gave the company a strong buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $ 39.83.
DCOM shares opened at $ 33.84 on Tuesday. The company has a fifty-day moving average of $ 32.75 and a 200-day moving average of $ 32.88. The company has a quick ratio of 0.96, a current ratio of 0.97, and a debt ratio of 0.18. Dime Community Bancshares has a 12 month low of $ 18.06 and a 12 month high of $ 35.87. The company has a market cap of $ 1.39 billion, a price-to-earnings ratio of 20.63 and a beta of 1.17.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 25. Investors of record on Monday, October 18 will receive a dividend of $ 0.24 per share. This represents an annualized dividend of $ 0.96 and a return of 2.84%. The ex-dividend date is Friday October 15. Dime Community Bancshares’ payout ratio is 38.10%.
In other news from Dime Community Bancshares, Director Basswood Capital Management, L sold 27,014 shares in a trade on Wednesday, August 18. The shares were sold for an average price of $ 32.80, for a total value of $ 886,059.20. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. Insiders have sold 139,696 shares of the company valued at $ 4,622,809 in the past 90 days. 16.40% of the shares are currently held by insiders.
A number of hedge funds have recently changed their positions in the company. Parametric Portfolio Associates LLC increased its stake in Dime Community Bancshares by 17.9% in the second quarter. Parametric Portfolio Associates LLC now owns 71,657 shares of the savings and loan company valued at $ 2,409,000 after acquiring an additional 10,893 shares in the last quarter. Morgan Stanley raised its stake in Dime Community Bancshares from 28.6% in the second quarter. Morgan Stanley now owns 189,588 shares of the savings and loan company valued at $ 6,375,000 after acquiring an additional 42,158 shares in the last quarter. Wells Fargo & Company MN increased its stake in Dime Community Bancshares shares by 29.4% during the 2nd quarter. Wells Fargo & Company MN now owns 41,743 shares of the savings and loan company valued at $ 1,404,000 after purchasing an additional 9,496 shares in the last quarter. Invesco Ltd. increased its stake in the shares of Dime Community Bancshares by 23.0% in the second quarter. Invesco Ltd. now owns 164,336 shares of the savings and loan company valued at $ 5,525,000 after purchasing an additional 30,744 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its stake in the shares of Dime Community Bancshares by 103,840.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 10,394 shares of the savings and loan company valued at $ 349,000 after purchasing an additional 10,384 shares in the last quarter. Hedge funds and other institutional investors hold 72.04% of the company’s shares.
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 at 24 service branches. full through Brooklyn, Queens, Nassau and the Bronx.
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