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Dime Community, Heritage Commerce, The Bancorp slide over 7%

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Dime Community, Heritage Commerce, The Bancorp slide over 7%

After reporting second-quarter earnings results, stocks of Brooklyn, N.Y.-based Dime Community Bancshares Inc., San Jose, Calif.-based Heritage Commerce Corp. and Wilmington, Del.-based The Bancorp Inc. declined more than 7%.

Dime Community dropped 8.67% to $17.90, while Heritage Commerce slumped 8.44% to $15.40. The Bancorp closed the day at $9.81, down 7.80%.

Dime Community reported second-quarter net income of $12.3 million, or 33 cents per share, compared to $12.0 million, or 32 cents per share, in the year-ago quarter. The S&P Capital IQ consensus normalized EPS estimate for the latest quarter was 36 cents.

Heritage Commerce reported second-quarter net income of $915,000, or 2 cents per share, compared to the year-ago quarter's net income of $7.4 million, or 19 cents per share. The S&P Capital IQ consensus normalized EPS estimate for the most recent quarter was 19 cents.

The Bancorp, on the other hand, reported second-quarter net income available to common shareholders of $6.1 million, or 11 cents per share, compared to $18.9 million, or 34 cents per share, in the year-ago quarter. The S&P Capital IQ consensus normalized EPS estimate for the newest quarter was 14 cents.

The KBW Nasdaq Bank Index was 0.46% higher at 109.52, and the KBW Nasdaq Regional Bank Index was 0.51% lower at 115.59, at market close.

Broader markets finished the day in the red, with the Dow Jones Industrial Average down by 0.30% to 25,451.06, the Nasdaq Composite Index off by 1.46% at 7,737.42 and the S&P 500 losing 0.66% to 2,818.82.

S&P Dow Jones Indices and S&P Global Market Intelligence are owned by S&P Global Inc.

Market prices and index values are current as of the time of publication and are subject to change.