Dime Community Bancshares (NASDAQ:DCOM) Sets New 1-Year High – Should You Buy?

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $30.19 and last traded at $30.05, with a volume of 37719 shares changing hands. The stock had previously closed at $29.56.

Analyst Ratings Changes

A number of research firms recently commented on DCOM. Keefe, Bruyette & Woods lifted their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their target price for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Finally, Raymond James lifted their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Trading Up 2.4 %

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. The business’s fifty day moving average is $25.70 and its 200 day moving average is $21.95. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.61 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data 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. The firm had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter in the previous year, the firm posted $0.68 EPS. Equities analysts predict that Dime Community Bancshares, Inc. will post 1.61 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Institutional Trading of Dime Community Bancshares

Large investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new position in Dime Community Bancshares during the second quarter valued at approximately $56,000. GAMMA Investing LLC increased its position in Dime Community Bancshares by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after purchasing an additional 685 shares during the period. Nisa Investment Advisors LLC grew its position in shares of Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after buying an additional 4,000 shares during the period. Quest Partners LLC bought a new position in Dime Community Bancshares in the 2nd quarter worth about $101,000. Finally, EMC Capital Management lifted its stake in Dime Community Bancshares by 42.2% during the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after acquiring an additional 2,924 shares during the period. 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.