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The latest announcement is out from Dime Community Bancshares ( (DCOM) ).
Dime Community Bancshares has completed a strategic repositioning of its investment securities portfolio by selling $379 million in lower-yielding debt securities and purchasing the same amount in higher-yielding securities, which will result in a one-time pre-tax loss of approximately $43 million in Q4 2024. Additionally, the company has begun distributing payments to participants of a terminated legacy pension plan, incurring an expected expense of $1 million in Q4 2024 and an additional $2 million in Q1 2025, as part of prudent expense management.
More about Dime Community Bancshares
Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $13.7 billion in assets, holding the top deposit market share among community banks on Greater Long Island.
YTD Price Performance: 35.52%
Average Trading Volume: 270,439
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.53B
For an in-depth examination of DCOM stock, go to TipRanks’ Stock Analysis page.
