StockNews.com Upgrades Dime Community Bancshares (NASDAQ:DCOM) to Hold

StockNews.com upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other equities research analysts have also commented on the stock. Piper Sandler lowered shares of Dime Community Bancshares from an overweight rating to a neutral rating and raised their price target for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Dime Community Bancshares presently has a consensus rating of Moderate Buy and a consensus target price of $27.25.

Dime Community Bancshares Stock Up 1.1 %

Shares of Dime Community Bancshares stock opened at $26.01 on Friday. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 14.61 and a beta of 1.00. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $27.91. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The business’s 50 day simple moving average is $23.92 and its 200-day simple moving average is $20.63.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The company had revenue of $171.23 million for the quarter, compared to analysts’ expectations of $82.19 million. During the same period last year, the business posted $0.68 earnings per share. Equities research analysts forecast that Dime Community Bancshares will post 1.59 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 17th were given a $0.25 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.84%. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds have recently modified their holdings of the company. Kimelman & Baird LLC bought a new position in Dime Community Bancshares during the second quarter valued at about $56,000. Nisa Investment Advisors LLC boosted its position in shares of Dime Community Bancshares by 496.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after purchasing an additional 4,000 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Dime Community Bancshares in the 2nd quarter worth approximately $101,000. EMC Capital Management raised its holdings in shares of Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after purchasing an additional 2,924 shares in the last quarter. Finally, Denali Advisors LLC acquired a new stake in Dime Community Bancshares during the second quarter valued at approximately $235,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.