Dime Community Bancshares Inc Stock Price, News & Analysis

Dime Community Bancshares reported a net income of $36.6 million ($0.89 per diluted share) for Q3 2021, up from $14.0 million in Q3 2020. Adjusted net income stood at $41.4 million. Non-interest-bearing deposits increased to 36% of total deposits, positioning the company favorably for rising interest rates. Total loans held for investment rose by 4% annually, while non-performing assets remained low at 0.28%. The cost of deposits decreased to 0.13%. However, total deposits fell by $392.2 million due to non-renewal of higher-cost certificates of deposit.

Dime Community Bancshares, Inc. (Nasdaq: DCOM, DCOMP) has declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. This dividend will be payable on November 15, 2021 to shareholders on record as of November 7, 2021.

The company holds over $12.3 billion in assets and boasts the highest deposit market share among community banks in Greater Long Island.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced its upcoming earnings release for the quarter ended September 30, 2021, scheduled for October 29, 2021, before U.S. markets open. CEO Kevin O'Connor will discuss the third quarter financial performance during a conference call at 8:30 a.m. ET on the same day. The call will feature a question-and-answer segment and will be available via webcast. Dime Community Bancshares, with over $12.7 billion in assets, holds the largest deposit market share among community banks on Greater Long Island.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has appointed Christopher Porzelt as Executive Vice President and Chief Risk Officer. He previously served as EVP and Interim Chief Risk Officer since June 2021. Porzelt will enhance the Enterprise Risk Management function, aligning risk management with corporate strategy. CEO Kevin M. O’Connor praised his valuable knowledge and experience. Dime Community Bancshares holds over $12.7 billion in assets and leads in deposit market share among community banks on Greater Long Island.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.24 per share, scheduled for payment on October 25, 2021. Shareholders of record as of October 18, 2021 will receive this dividend, continuing the Company's trend of uninterrupted dividends. With over $12.7 billion in assets, Dime Community Bank holds the top deposit market share among community banks in Greater Long Island.

Dime Community Bancshares, Inc. (DCOM) has announced a new stock repurchase program, allowing the purchase of up to 2,043,968 shares, representing 5% of its outstanding common stock. This follows the completion of its existing plan, which has 49,230 shares remaining eligible for repurchase. The program aims to enhance shareholder value and can be executed through various market strategies at management's discretion. The repurchased shares will be held as treasury stock for general corporate purposes, contingent upon market conditions and financial performance.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced that Kroll Bond Rating Agency (KBRA) has revised its ratings outlook from "Stable" to "Positive" as of August 12, 2021. This change reflects the benefits from the company's merger-of-equals transaction, which has improved earnings potential and market share. KBRA highlights Dime's strong liquidity, diverse operating profile, and leading deposit market share in its region. The company's senior unsecured debt rating remains at BBB.

Dime Community Bancshares (NASDAQ: DCOM) reported a net income of $49.5 million for Q2 2021, up from a loss of $22.9 million in Q1 2021. The adjusted net income was $39.1 million, boosted by a $20.7 million gain from the sale of PPP loans. Non-interest-bearing deposits increased to 33.3% of total deposits, and the cost of deposits fell to 0.17%. Capital ratios improved, with the tangible equity ratio rising to 8.29%. Non-performing assets decreased by 20% to just 0.22% of total assets. The company continues to manage its expenses effectively, achieving a core efficiency ratio averaging 48%.

Dime Community Bancshares has declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable on August 15, 2021, to shareholders of record as of August 6, 2021. With approximately $13 billion in assets, Dime Community Bancshares leads with the highest deposit market share among community banks in Greater Long Island.