Dime Community Bancshares Inc Stock Price, News & Analysis

Dime Community Bancshares (NASDAQ: DCOM) reported a net loss of $22.9 million or $0.66 per share for Q1 2021, a sharp decline from a profit of $3.3 million in Q4 2020. Adjusted net income was $32.4 million, reflecting significant merger-related costs of $37.9 million. Total deposits surged by over $800 million since the February merger, with $573.3 million in PPP loans originated. The Board has approved a resumption of the share repurchase program. Despite the net loss, management expressed confidence in future growth opportunities and strong capital levels, with a tangible equity ratio of 7.83% as of March 31, 2021.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) announced on April 29, 2021, that it declared a quarterly cash dividend of $0.34375 per share of Series A Preferred Stock, payable on May 15, 2021. Additionally, a quarterly cash dividend of $0.24 per share of Common Stock will be paid on May 21, 2021. These dividends reflect the company's ongoing commitment to providing returns to shareholders. Dime Community Bancshares holds over $13 billion in assets and maintains the highest deposit market share among community banks in Greater Long Island.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) will release its earnings for Q1 2021 on April 30, 2021, before U.S. markets open. CEO Kevin O’Connor will discuss the financial performance during a conference call at 8:30 a.m. ET on the same day. The call will be available via a live webcast and archived for one year. Dime Community Bancshares has over $13 billion in assets and holds the number one deposit market share among community banks on Greater Long Island, with significant market presence in Kings, Queens, Nassau, and Suffolk counties.

On February 9, 2021, Dime Community Bancshares, Inc. (NASDAQ: DCOM) announced that Fitch Ratings affirmed its investment grade ratings for the Company and Dime Community Bank. The Fitch report highlighted the Company’s stable performance amid COVID-19 and its merger of equals. Fitch noted that benefits from the merger, including diversification and scale, outweigh integration risks, and observed a significant decline in loan payment deferrals from Q2 2020.

Dime Community Bancshares, Inc. (DCOM) 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 February 15, 2021 to shareholders on record as of February 4, 2021. The Company boasts over $12 billion in assets and $9 billion in total deposits, with more than 60 branches across New York.

Bridge Bancorp and Dime Community Bancshares have successfully completed their merger, converting Legacy Dime shares into Bridge shares at a ratio of 0.648. The merged company now operates under the ticker symbol DCOM and boasts over $12 billion in assets and 60 branches.

Customers will see no immediate changes to their banking relationships. Experts emphasize that the merger aims to enhance customer service and increase capital in the New York area.

Dime Community Bancshares, Inc. (NASDAQ: DCOM) reported a positive trend in its loan portfolio as of December 31, 2020. Principal and Interest (P&I) deferrals decreased to $37.1 million, representing just 0.7% of the total loan portfolio. Additionally, 3.4% of the portfolio is now on a full interest payment plan, deferring only principal payments. CEO Kenneth J. Mahon expressed optimism regarding the ability to work with borrowers to facilitate reasonable resolutions.

Dime Community Bancshares reported a 29% increase in revenues and a 223% rise in earnings per share for Q3 2020, achieving net income of $14.0 million, or $0.42 per diluted share. Excluding merger expenses, EPS would be $0.44, a record for the company. The bank experienced non-performing assets decline by 19.2% and strong growth in checking account balances, up 61.1% year-over-year. The net interest margin expanded by 6 basis points, driven by reduced deposit costs. Management highlighted positive trends in loans exiting deferment, indicating robust recovery prospects.

Dime Community Bancshares, Inc. (Nasdaq: DCOM) has declared a quarterly cash dividend of $0.34375 per share for Series A Preferred Stock, payable on November 15, 2020, and $0.14 per share for Common Stock, payable on November 13, 2020. The record date for both dividends is November 6, 2020. This marks the third quarterly dividend for Series A Preferred Stock and the 94th consecutive dividend for Common Stock. As of June 30, 2020, the Company reported consolidated assets of $6.47 billion.