Dime Community Bancshares (NASDAQ:DCOM) Sets New 52-Week High – Here’s What Happened

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $37.19 and last traded at $37.00, with a volume of 14464 shares traded. The stock had previously closed at $36.32.

Analyst Upgrades and Downgrades

DCOM has been the topic of several recent research reports. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $39.00 in a report on Monday, November 18th. Raymond James upped their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $31.40.

Dime Community Bancshares Stock Down 1.0 %

The company has a market cap of $1.41 billion, a PE ratio of 24.01 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. The firm has a fifty day simple moving average of $30.85 and a 200 day simple moving average of $24.98.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. The firm had revenue of $171.87 million during the quarter, compared to analysts’ expectations of $86.65 million. During the same period last year, the business posted $0.56 earnings per share. Equities research analysts predict that Dime Community Bancshares, Inc. will post 1.49 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s payout ratio is currently 66.67%.

Insider Activity at Dime Community Bancshares

In related news, Director Basswood Capital Management, L acquired 29,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $32.00 per share, with a total value of $928,000.00. Following the completion of the transaction, the director now directly owns 1,044,221 shares of the company’s stock, valued at $33,415,072. This trade represents a 2.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently modified their holdings of the stock. Boston Partners boosted its holdings in Dime Community Bancshares by 4.8% in the 1st 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 period. Royce & Associates LP boosted its stake in shares of Dime Community Bancshares by 47.4% in the third quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after purchasing an additional 162,004 shares during the period. Renaissance Technologies LLC grew its holdings in Dime Community Bancshares by 12.8% during the 2nd quarter. Renaissance Technologies LLC now owns 211,604 shares of the savings and loans company’s stock valued at $4,317,000 after purchasing an additional 24,000 shares in the last quarter. American Century Companies Inc. increased its stake in Dime Community Bancshares by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock worth $12,959,000 after buying an additional 77,284 shares during the period. Finally, First Eagle Investment Management LLC lifted its holdings in Dime Community Bancshares by 33.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock worth $9,967,000 after buying an additional 123,800 shares in the last quarter. Institutional investors and hedge funds 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.