Dime Community Bancshares (NASDAQ:DCOM) Upgraded to “Overweight” at Stephens

Stephens upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, Marketbeat.com reports. Stephens currently has $39.00 target price on the savings and loans company’s stock, up from their previous target price of $30.00.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Raymond James raised 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 report on Wednesday, October 2nd. 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 report on Tuesday, July 23rd. Finally, StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.40.

Dime Community Bancshares Stock Up 0.9 %

DCOM stock opened at $35.00 on Monday. The firm has a market cap of $1.37 billion, a PE ratio of 23.33 and a beta of 0.99. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $36.05. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $30.29 and a 200 day simple moving average of $24.56.

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 analysts’ consensus estimates 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 company had revenue of $171.87 million during the quarter, compared to analysts’ expectations of $86.65 million. During the same period last year, the company earned $0.56 earnings per share. Equities research analysts forecast that Dime Community Bancshares will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.86%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s payout ratio is presently 66.67%.

Insider Buying and Selling

In other Dime Community Bancshares 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 completion of the acquisition, the director now owns 1,044,221 shares in the company, valued at $33,415,072. This trade represents a 2.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 9.10% of the stock is owned by insiders.

Institutional Trading of Dime Community Bancshares

Large investors have recently modified their holdings of the stock. Boston Partners boosted 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 in the last quarter. Royce & Associates LP boosted its position in shares of Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after purchasing an additional 162,004 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Dime Community Bancshares by 12.8% in 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 buying an additional 24,000 shares during the period. American Century Companies Inc. increased its position in Dime Community Bancshares by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after buying an additional 77,284 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in Dime Community Bancshares by 33.9% during 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 during the period. 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.