Dime Community Bancshares, Inc. (NASDAQ:DCOM) Expected to Post Quarterly Sales of $105.36 Million

Wall Street brokerages forecast that Dime Community Bancshares, Inc. (NASDAQ:DCOM) will post sales of $105.36 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Dime Community Bancshares’ earnings. The highest sales estimate is $109.10 million and the lowest is $101.62 million. Dime Community Bancshares posted sales of $42.68 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 146.9%. The firm is scheduled to announce its next earnings results on Tuesday, July 27th.

According to Zacks, analysts expect that Dime Community Bancshares will report full year sales of $384.66 million for the current financial year, with estimates ranging from $371.81 million to $397.50 million. For the next fiscal year, analysts anticipate that the company will post sales of $416.66 million, with estimates ranging from $408.01 million to $425.30 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Dime Community Bancshares.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, April 29th. The savings and loans company reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.13. Dime Community Bancshares had a net margin of 4.99% and a return on equity of 11.64%. The firm had revenue of $70.46 million during the quarter, compared to analyst estimates of $92.77 million.

Several brokerages have weighed in on DCOM. Zacks Investment Research raised shares of Dime Community Bancshares from a “strong sell” rating to a “hold” rating and set a $37.00 target price for the company in a research note on Tuesday, April 27th. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $35.00 to $38.50 in a research note on Monday, May 10th. TheStreet raised shares of Dime Community Bancshares from a “c” rating to a “b” rating in a research note on Monday, March 8th. Finally, Raymond James raised shares of Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $17.00 to $43.00 in a research note on Tuesday, April 13th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Dime Community Bancshares has a consensus rating of “Buy” and a consensus price target of $39.50.

Shares of DCOM traded up $0.62 during mid-day trading on Tuesday, reaching $34.08. The stock had a trading volume of 2,340 shares, compared to its average volume of 212,424. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares has a 52-week low of $16.51 and a 52-week high of $35.87. The company has a fifty day moving average of $33.49. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 33.80 and a beta of 1.18.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Tuesday, May 11th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, May 10th. This represents a $0.96 annualized dividend and a dividend yield of 2.82%. Dime Community Bancshares’s dividend payout ratio is presently 38.10%.

Institutional investors and hedge funds have recently modified their holdings of the company. Eaton Vance Management acquired a new stake in shares of Dime Community Bancshares during the first quarter worth about $37,000. Captrust Financial Advisors acquired a new stake in shares of Dime Community Bancshares during the fourth quarter worth about $41,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Dime Community Bancshares during the first quarter worth about $110,000. KBC Group NV acquired a new stake in shares of Dime Community Bancshares during the fourth quarter worth about $60,000. Finally, Federated Hermes Inc. lifted its position in shares of Dime Community Bancshares by 30.3% during the first quarter. Federated Hermes Inc. now owns 4,239 shares of the savings and loans company’s stock worth $128,000 after purchasing an additional 986 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and NOW accounts, as well as certificates of deposit, demand deposits, and other time deposits.

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

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