Dime Community Bancshares (NASDAQ:DCOM) Upgraded at Raymond James

Raymond James upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from an outperform rating to a strong-buy rating in a report released on Tuesday morning, Marketbeat reports. Raymond James currently has $35.00 price target on the savings and loans company’s stock, up from their previous price target of $29.00.

DCOM has been the topic of several other reports. StockNews.com upgraded shares of Dime Community Bancshares from a sell rating to a hold rating in a report on Friday, September 13th. Keefe, Bruyette & Woods upped their price target 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. Finally, Piper Sandler downgraded shares of 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. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $29.25.

Dime Community Bancshares Stock Up 4.6 %

Shares of DCOM stock opened at $29.90 on Tuesday. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $30.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 16.80 and a beta of 1.00. The firm’s 50-day moving average is $24.42 and its 200-day moving average is $20.82.

Dime Community Bancshares (NASDAQ:DCOM) last released 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 company had revenue of $171.23 million during the quarter, compared to analysts’ expectations of $82.19 million. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. During the same period last year, the firm posted $0.68 earnings per share. Sell-side analysts predict that Dime Community Bancshares will post 1.59 EPS for the current year.

Institutional Trading of Dime Community Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Foundry Partners LLC increased its holdings in shares of Dime Community Bancshares by 31.0% during the first quarter. Foundry Partners LLC now owns 205,409 shares of the savings and loans company’s stock worth $3,956,000 after purchasing an additional 48,619 shares during the period. Boston Partners grew its position 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 buying an additional 31,853 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Dime Community Bancshares by 21.3% during the 1st quarter. First Eagle Investment Management LLC now owns 364,754 shares of the savings and loans company’s stock worth $7,025,000 after acquiring an additional 64,100 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Dime Community Bancshares by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,146,521 shares of the savings and loans company’s stock valued at $57,807,000 after acquiring an additional 43,679 shares during the period. Finally, Stieven Capital Advisors L.P. lifted its position in shares of Dime Community Bancshares by 22.2% during the 2nd quarter. Stieven Capital Advisors L.P. now owns 298,345 shares of the savings and loans company’s stock valued at $6,086,000 after acquiring an additional 54,193 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.