Dime Community Bancshares, Inc. (NASDAQ:DCOM) Announces $0.25 Quarterly Dividend

Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, June 25th. Investors of record on Friday, July 17th will be given a dividend of 0.25 per share by the savings and loans company on Friday, July 24th. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 17th.

Dime Community Bancshares has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Dime Community Bancshares has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Stock Up 0.2%

Shares of NASDAQ DCOM opened at $39.86 on Friday. Dime Community Bancshares has a 12-month low of $25.63 and a 12-month high of $40.76. The firm’s 50-day simple moving average is $37.38 and its 200 day simple moving average is $34.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 16.89 and a beta of 1.00.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DCOM shares. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 price target for the company. Keefe, Bruyette & Woods boosted their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, DA Davidson upped their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Dime Community Bancshares has an average rating of “Moderate Buy” and an average price target of $39.75.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.