Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives Average Recommendation of “Buy” from Brokerages

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has earned an average rating of “Buy” from the four ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $29.50.

A number of brokerages recently issued reports on DCOM. Raymond James boosted their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and set a $39.00 price objective for the company in a report on Monday. Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st.

Dime Community Bancshares Stock Up 0.9 %

Dime Community Bancshares stock opened at $34.00 on Monday. The firm has a 50 day moving average price of $29.47 and a two-hundred day moving average price of $24.20. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 22.67 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $35.21.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). The business had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same period in the previous year, the business posted $0.56 EPS. Equities analysts predict that Dime Community Bancshares will post 1.48 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 66.67%.

Insiders Place Their Bets

In other news, Director Basswood Capital Management, L bought 29,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the acquisition, the director now owns 1,044,221 shares of the company’s stock, valued at $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently modified their holdings of DCOM. Vanguard Group Inc. boosted its position in Dime Community Bancshares by 0.8% during the first quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock worth $47,762,000 after purchasing an additional 19,999 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dime Community Bancshares by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock valued at $44,328,000 after purchasing an additional 13,650 shares during the last quarter. Systematic Financial Management LP increased its stake in Dime Community Bancshares by 15.1% during the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock worth $31,416,000 after acquiring an additional 143,402 shares during the last quarter. Geode Capital Management LLC increased its stake in Dime Community Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock worth $24,773,000 after acquiring an additional 9,978 shares during the last quarter. Finally, Boston Partners increased its stake in Dime Community Bancshares by 4.8% during the first quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after acquiring an additional 31,853 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.