Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, September 30th, Zacks reports. Stockholders of record on Monday, October 18th will be given a dividend of 0.24 per share by the savings and loans company on Monday, October 25th. This represents a $0.96 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Friday, October 15th.
Dime Community Bancshares has a payout ratio of 24.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Dime Community Bancshares to earn $3.41 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 25.2%.
DCOM opened at $34.48 on Thursday. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 21.02 and a beta of 1.17. The firm has a 50 day moving average price of $32.95 and a 200-day moving average price of $33.04. Dime Community Bancshares has a twelve month low of $18.24 and a twelve month high of $35.87. The company has a quick ratio of 0.96, a current ratio of 0.97 and a debt-to-equity ratio of 0.18.
In related news, Director Basswood Capital Management, L sold 12,682 shares of Dime Community Bancshares stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $33.65, for a total transaction of $426,749.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 139,696 shares of company stock worth $4,622,809 over the last 90 days. Insiders own 16.40% of the company’s stock.
An institutional investor recently raised its position in Dime Community Bancshares stock. Wells Fargo & Company MN increased its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,743 shares of the savings and loans company’s stock after acquiring an additional 9,496 shares during the quarter. Wells Fargo & Company MN owned about 0.10% of Dime Community Bancshares worth $1,404,000 at the end of the most recent quarter. Institutional investors and hedge funds own 72.04% of the company’s stock.
Separately, Zacks Investment Research cut Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Friday, July 9th. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.83.
About Dime Community Bancshares
The largest community bank headquartered in Brooklyn, New York, chartered on April 19, 1864. The bank specializes in Commercial Mortgage finance in the NY Metro area and services depositors in 24 full service branches throughout Brooklyn, Queens, Nassau, and the Bronx.
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