Stock Monitor: Anchor Bancorp Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 05, 2018 / Active-Investors.com has just released a free earnings report on Dime Community Bancshares, Inc. (NASDAQ: DCOM) ("Dime Community"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=DCOM. The Company posted its financial results on January 25, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Brooklyn, New York-based Company's net interest income grew 2.2% y-o-y. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Anchor Bancorp (NASDAQ: ANCB), which also belongs to the Financial sector as the Company Dime Community Bancshares. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dime Community Bancshares most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=DCOM
Earnings Highlights and Summary
During Q4 FY17, Dime Community's total interest income grew to $54.59 million from $51.79 million in Q4 FY16. The Company's total interest expenses also increased to $15.86 million in Q4 FY17 from $13.89 million in Q4 FY16. Dime Community's net interest income rose to $38.73 million during the reported quarter from $37.90 million in Q4 FY16. Furthermore, the Company's net interest income after provision for credit losses grew to $39.73 million in Q4 FY17 from $37.37 million in the year ago same quarter. Meanwhile, the Company's total non-interest income was $13.71 million during Q4 FY17 compared to $1.82 million in Q4 FY16.
The bank holding Company reported a net income of $15.42 million, or $0.41 per diluted share, in Q4 FY17 compared to $0.73 million, or $0.02 per diluted share, in Q4 FY16. The Company's adjusted net income came in at $12.83 million, or $0.34 per diluted common share, in Q4 FY17 compared to $12.05 million, or $0.02 per diluted share, in Q4 FY16.
For the full year FY17, the Company posted a net interest income after provision for credit losses of $152.21 million versus $141.37 million in the last year. Dime Community's total non-interest income during FY17 was $21.51 million compared to $75.93 million in FY16. Additionally, the Company reported an adjusted net income of $48.52 million, or $1.29 per diluted share, compared to $46.35 million, or $1.26 per diluted share, in FY16.
Earnings Metrics
During the reported quarter, the Company posted an adjusted return on average assets of 0.80% versus 0.82% in the prior year's comparable quarter. The return on average common equity was 8.66% in Q4 FY17 compared to 8.60% in Q4 FY16. Moreover, return on average tangible common equity was 9.56% for the reported quarter compared to 9.55% in Q4 FY16.
The Company's efficiency ratio was 55.63% in Q4 FY17 compared to 46.10% in Q4 FY16. The Company's adjusted net interest margin was 2.50% during Q4 FY17 versus 2.67% in Q4 FY16. The tangible book value per share was $14.51 at December 31, 2017, compared to $13.62 as on December 31, 2016. During Q4 FY17, common equity tier 1 capital ratio came in at 11.74% compared to 11.44% as on December 31, 2016. Furthermore, tier 1 leverage capital stood at 8.61% as on December 31, 2017, compared to 10.03% as on December 31, 2017.
Balance Sheet Analyzed
Dime Community's average real estate loans balance stood at $5.82 billion the end of Q4 FY17 compared to $5.56 billion in Q4 FY16. Total average interest-earnings assets were $6.20 billion for the quarter ended December 31, 2017, versus $5.69 billion recorded in the prior year's corresponding period. Additionally, yield on total average interest-earnings assets was 3.52% for the year ended December 31, 2017, compared to 3.64% in the year ago.
Average balance of total deposits increased to $4.05 billion in Q4 FY17 from $4.01 billion in Q4 FY16. The cost on total deposits was 0.98% in Q4 FY17, up from 0.93% in Q4 FY16. Furthermore, loan to deposit ratio was 127.2% as on December 31, 2017, compared to 128.33% as on December 31, 2016.
Non-performing assets totaled $0.53 million, or 0.01% of total loans, at December 31, 2017, versus $4.24 million, or 0.08% of total loans, at December 31, 2016. The allowance for loan losses was $21.03 million, or 0.38% of total loans, at December 31, 2017, compared to $20.54 million, or 0.36% of total loans, at December 31, 2016.
Dividend and Share Repurchase
In a separate press release on January 25, 2018, Dime Community's Board of Directors declared a quarterly cash dividend of $0.14 per share, payable on February 13, 2018, to all stockholders of record as of February 06, 2018.
Stock Performance Snapshot
February 02, 2018 - At Friday's closing bell, Dime Community Bancshares' stock was marginally down 0.52%, ending the trading session at $19.15.
Volume traded for the day: 241.36 thousand shares, which was above the 3-month average volume of 178.16 thousand shares.
After last Friday's close, Dime Community Bancshares' market cap was at $720.42 million.
Price to Earnings (P/E) ratio was at 20.84.
The stock has a dividend yield of 2.92%.
The stock is part of the Financial sector, categorized under the Savings & Loans industry.
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