Dime Community Bancshares (NASDAQ:DCOM) Sees Large Volume Increase – Time to Buy?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) saw unusually-high trading volume on Tuesday . Approximately 352,739 shares changed hands during trading, an increase of 58% from the previous session’s volume of 223,526 shares.The stock last traded at $33.70 and had previously closed at $34.43.

Wall Street Analysts Forecast Growth

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

Dime Community Bancshares Trading Up 0.6 %

The stock has a 50-day moving average of $28.97 and a 200 day moving average of $23.88. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.32 billion, a PE ratio of 22.51 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.58% and a net margin of 9.65%. During the same quarter in the previous year, the company earned $0.56 EPS. As a group, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.96%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 66.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kimelman & Baird LLC acquired a new stake in Dime Community Bancshares during the second quarter valued at $56,000. GAMMA Investing LLC increased its stake in shares of Dime Community Bancshares by 30.4% in 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 in the last quarter. Nisa Investment Advisors LLC raised its holdings in 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 purchasing an additional 4,000 shares during the period. Quest Partners LLC purchased a new position in Dime Community Bancshares during the second quarter worth approximately $101,000. Finally, EMC Capital Management grew its holdings in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after purchasing an additional 2,924 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

About Dime Community Bancshares

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.