Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives $36.40 Average Price Target from Analysts

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has earned an average rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $36.40.

DCOM has been the subject of several research reports. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $30.00 to $39.00 in a report on Monday, November 18th. Keefe, Bruyette & Woods dropped their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Finally, Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $36.00 to $38.00 in a report on Thursday, January 23rd.

Dime Community Bancshares Stock Down 3.4 %

Dime Community Bancshares stock opened at $32.74 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The company’s 50-day moving average is $32.33 and its 200-day moving average is $29.53. The firm has a market capitalization of $1.28 billion, a PE ratio of 55.49 and a beta of 1.05. Dime Community Bancshares has a fifty-two week low of $17.29 and a fifty-two week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Sell-side analysts anticipate that Dime Community Bancshares will post 2.99 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio is currently 169.49%.

Insider Activity at Dime Community Bancshares

In related news, Director Basswood Capital Management, L purchased 1,043 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average price of $31.23 per share, with a total value of $32,572.89. Following the completion of the transaction, the director now directly owns 1,043 shares of the company’s stock, valued at $32,572.89. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now owns 20,155 shares in the company, valued at approximately $720,742.80. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. 9.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its holdings in shares of Dime Community Bancshares by 58.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock worth $55,000 after acquiring an additional 654 shares during the period. KBC Group NV lifted its stake in Dime Community Bancshares by 50.8% during the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 909 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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. USA Financial Formulas bought a new position in shares of Dime Community Bancshares in the 4th quarter valued at $92,000. Finally, Quest Partners LLC lifted its position in shares of Dime Community Bancshares by 9.4% during the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after buying an additional 465 shares during the last quarter. 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.