Dime Community Bancshares Inc Stock Price, News & Analysis

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.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced its upcoming earnings release for Q2 2021, scheduled for July 30, 2021, before U.S. markets open. CEO Kevin O’Connor will discuss the financial performance in a conference call at 8:30 a.m. ET, followed by a Q&A session. The call will be webcast and available for a year. Dime Community Bancshares holds over $13 billion in assets and leads in deposit market share among community banks in Greater Long Island.

Dime Community Bank, a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), announced the consolidation of five branch locations into existing branches, effective October 2021. The closures include: 149 Kent Avenue with 281 Broadway, 1600 Avenue M with 1902 Kings Highway, 6324 Route 25A with 75 Route 25A, and 150 Hampton Road with 243 Windmill Lane. CEO Kevin O’Connor stated this initiative aims to enhance branch network efficiency while minimizing customer disruption.

Dime Community Bancshares, Inc. holds over $13 billion in assets, leading in deposit market share among community banks on Greater Long Island.

Dime Community Bank, a subsidiary of Dime Community Bancshares, Inc. (NASDAQ: DCOM), announced the sale of over $585 million in Paycheck Protection Program (PPP) loans it originated in 2021 to The Loan Source, Inc. This transaction is expected to yield a pre-tax gain of approximately $20.5 million in Q2 2021, increase the Tangible Common Equity ratio by 45 basis points, and raise Tangible Book Value per share by about $0.34. CEO Kevin O’Connor emphasized that this sale will allow the bank to focus on traditional lending while a specialized firm handles the PPP servicing process.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.24 per share, payable on July 26, 2021, to stockholders of record as of July 19, 2021. This consistent dividend payment highlights the Company’s commitment to returning value to its investors and marks another uninterrupted dividend payment period. With over $13 billion in assets, Dime Community Bancshares remains a leading community bank in Greater Long Island, boasting the highest deposit market share among local banks.