Dime Community Bancshares (NASDAQ:DCOM) Hits New 12-Month High – Here’s Why

by · The Cerbat Gem

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $35.22 and last traded at $35.10, with a volume of 86071 shares trading hands. The stock had previously closed at $33.70.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $30.00 to $39.00 in a research note on Monday. Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price target for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. Raymond James lifted their price target on 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. Keefe, Bruyette & Woods upped their price objective on 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, StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $31.40.

Check Out Our Latest Analysis on Dime Community Bancshares

Dime Community Bancshares Trading Down 1.4 %

The stock has a fifty day moving average of $29.88 and a 200-day moving average of $24.42. The company has a market cap of $1.36 billion, a PE ratio of 23.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 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 for the quarter, compared to analysts’ expectations of $86.65 million. During the same period last year, the business posted $0.56 earnings per share. Sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.48 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 66.67%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L purchased 29,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $32.00 per share, with a total value of $928,000.00. Following the transaction, the director now owns 1,044,221 shares in the company, valued at $33,415,072. The trade was a 2.86 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Dime Community Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock valued at $24,773,000 after buying an additional 9,978 shares during the period. Barclays PLC increased its stake in shares of Dime Community Bancshares by 91.0% in the 3rd quarter. Barclays PLC now owns 75,732 shares of the savings and loans company’s stock valued at $2,181,000 after purchasing an additional 36,076 shares in the last quarter. Systematic Financial Management LP raised its holdings in Dime Community Bancshares by 15.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock worth $31,416,000 after purchasing an additional 143,402 shares during the period. The Manufacturers Life Insurance Company boosted its position in Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after purchasing an additional 263,225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Dime Community Bancshares by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 316,611 shares of the savings and loans company’s stock valued at $9,118,000 after purchasing an additional 5,052 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

(Get Free Report)

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.

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