Wall Street brokerages forecast that Dime Community Bancshares, Inc. (NASDAQ:DCOM) will report $101.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Dime Community Bancshares’ earnings. The highest sales estimate is $103.60 million and the lowest is $100.27 million. Dime Community Bancshares reported sales of $48.44 million in the same quarter last year, which would suggest a positive year over year growth rate of 110.4%. The firm is scheduled to issue its next earnings report on Thursday, January 27th.
On average, analysts expect that Dime Community Bancshares will report full year sales of $399.74 million for the current fiscal year, with estimates ranging from $398.08 million to $401.40 million. For the next financial year, analysts anticipate that the firm will post sales of $415.88 million, with estimates ranging from $405.35 million to $426.40 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Dime Community Bancshares.
Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, October 28th. The savings and loans company reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.08. Dime Community Bancshares had a net margin of 20.83% and a return on equity of 14.25%. The firm had revenue of $104.56 million during the quarter, compared to analyst estimates of $100.18 million. During the same quarter in the previous year, the business earned $0.77 EPS.
Separately, Zacks Investment Research upgraded shares of Dime Community Bancshares from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Wednesday, November 3rd. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $41.17.
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NASDAQ:DCOM opened at $34.30 on Wednesday. The firm’s 50-day moving average is $35.24 and its 200-day moving average is $33.91. Dime Community Bancshares has a 52-week low of $22.23 and a 52-week high of $38.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.92 and a current ratio of 0.92. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 18.34 and a beta of 1.15.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 25th. Investors of record on Monday, October 18th were paid a $0.24 dividend. The ex-dividend date of this dividend was Friday, October 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.80%. Dime Community Bancshares’s payout ratio is currently 51.34%.
In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 21,648 shares of the stock in a transaction that occurred on Thursday, September 2nd. The shares were acquired at an average price of $33.07 per share, with a total value of $715,899.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 16.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of DCOM. Advisor Group Holdings Inc. grew its stake in Dime Community Bancshares by 252.2% during the second quarter. Advisor Group Holdings Inc. now owns 877 shares of the savings and loans company’s stock worth $29,000 after buying an additional 628 shares during the last quarter. Eaton Vance Management bought a new stake in Dime Community Bancshares during the first quarter worth about $37,000. Point72 Hong Kong Ltd bought a new stake in Dime Community Bancshares during the third quarter worth about $41,000. Captrust Financial Advisors grew its stake in Dime Community Bancshares by 303.0% during the third quarter. Captrust Financial Advisors now owns 3,619 shares of the savings and loans company’s stock worth $118,000 after buying an additional 2,721 shares during the last quarter. Finally, Carolina Wealth Advisors LLC grew its stake in Dime Community Bancshares by 28.4% during the second quarter. Carolina Wealth Advisors LLC now owns 4,691 shares of the savings and loans company’s stock worth $158,000 after buying an additional 1,037 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
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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