Dime Community Bancshares, Inc. (NASDAQ:DCOM) Expected to Post Quarterly Sales of $99.74 Million

Analysts expect Dime Community Bancshares, Inc. (NASDAQ:DCOMGet Rating) to announce sales of $99.74 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Dime Community Bancshares’ earnings. The lowest sales estimate is $98.80 million and the highest is $100.67 million. Dime Community Bancshares reported sales of $122.80 million during the same quarter last year, which indicates a negative year-over-year growth rate of 18.8%. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Dime Community Bancshares will report full year sales of $399.36 million for the current fiscal year, with estimates ranging from $396.10 million to $402.61 million. For the next financial year, analysts forecast that the business will post sales of $425.95 million, with estimates ranging from $423.50 million to $428.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Dime Community Bancshares.

Dime Community Bancshares (NASDAQ:DCOMGet Rating) last announced its quarterly earnings results on Friday, April 29th. The savings and loans company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.03). The firm had revenue of $96.31 million for the quarter, compared to analysts’ expectations of $100.15 million. Dime Community Bancshares had a return on equity of 14.40% and a net margin of 35.58%. During the same period last year, the company posted $0.94 earnings per share.

A number of research analysts recently commented on the company. Stephens cut Dime Community Bancshares from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $36.00 to $34.50 in a report on Monday, May 16th. Zacks Investment Research cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, StockNews.com assumed coverage on Dime Community Bancshares in a report on Thursday, March 31st. They issued a “hold” rating on the stock.

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 23,746 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $29.40, for a total transaction of $698,132.40. Following the transaction, the director now owns 75,698 shares of the company’s stock, valued at $2,225,521.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last ninety days, insiders have sold 96,666 shares of company stock worth $2,918,257. Corporate insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. acquired a new stake in Dime Community Bancshares in the first quarter valued at about $8,237,000. LSV Asset Management lifted its position in Dime Community Bancshares by 59.5% in the first quarter. LSV Asset Management now owns 363,540 shares of the savings and loans company’s stock valued at $12,568,000 after purchasing an additional 135,614 shares during the period. BlackRock Inc. lifted its position in Dime Community Bancshares by 2.2% in the fourth quarter. BlackRock Inc. now owns 5,511,788 shares of the savings and loans company’s stock valued at $193,793,000 after purchasing an additional 119,277 shares during the period. Phocas Financial Corp. lifted its position in shares of Dime Community Bancshares by 99.4% during the 4th quarter. Phocas Financial Corp. now owns 191,548 shares of the savings and loans company’s stock valued at $6,735,000 after acquiring an additional 95,487 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in shares of Dime Community Bancshares by 177.6% during the 3rd quarter. Goldman Sachs Group Inc. now owns 142,369 shares of the savings and loans company’s stock valued at $4,650,000 after acquiring an additional 91,087 shares during the period. Institutional investors and hedge funds own 72.30% of the company’s stock.

DCOM stock opened at $31.78 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $32.87 and a 200-day simple moving average of $34.18. The firm has a market capitalization of $1.25 billion, a PE ratio of 8.52 and a beta of 1.06. Dime Community Bancshares has a 1 year low of $28.36 and a 1 year high of $38.35.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 18th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.02%. The ex-dividend date was Thursday, April 14th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 25.74%.

About Dime Community Bancshares (Get Rating)

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.

Recommended Stories

Get a free copy of the Zacks research report on Dime Community Bancshares (DCOM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Dime Community Bancshares (NASDAQ:DCOM)

Want More Great Investing Ideas?

Receive News & Ratings for Dime Community Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dime Community Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.