Dime in NY takes $43 million hit to unload underperforming securities [Yahoo! Finance]
Dime Community Bancshares, Inc. (DCOM)
Last dime community bancshares, inc. earnings: 4/28 06:00 am
Check Earnings Report
US:NASDAQ Investor Relations:
investors.dime.com
Company Research
Source: Yahoo! Finance
Dime Community Bancshares joined a growing list of lenders that repositioned their securities portfolios in 2024 by selling low-yielding holdings at losses. The moves create near-term hits to earnings but generate proceeds the banks can reinvest into profitable endeavors. The Hauppauge, New York-based Dime said in a press release late Thursday that it sold $379 million of debt securities that had a weighted average yield of 1.20% and a duration of just over three years. The $13.7 billion-asset company reinvested all of the proceeds into a new batch of debt securities with a weighted average yield of 5.08% and a duration of about four years. Dime said it expects to recognize a $43 million pretax loss from the sale in the fourth quarter, though the more than four-fold gain in yield on the new investments was projected to bolster earnings in coming quarters. The bank in November disclosed a common stock offering to raise $125 million in part to support the balance sheet restructurin
Show less
Read more
Impact Snapshot
Event Time:
DCOM
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
DCOM alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
DCOM alerts
High impacting Dime Community Bancshares, Inc. news events
Weekly update
A roundup of the hottest topics
DCOM
News
- Dime Community Bancshares, Inc. Announces Retirement of Michael P. Devine from Board of DirectorsGlobeNewswire
- Dime Community Bancshares declares $0.25 dividend [Seeking Alpha]Seeking Alpha
- Dime Community Bancshares Declares Quarterly Cash Dividend for Common StockGlobeNewswire
- Dime Community Bancshares, Inc. Provides Update on Investment Portfolio Repositioning and Pension TerminationGlobeNewswire
- Dime Community Bancshares, Inc. (NASDAQ: DCOM) had its price target raised by analysts at Keefe, Bruyette & Woods from $38.00 to $42.00. They now have an "outperform" rating on the stock.MarketBeat