Dime Community Bancshares, Inc. (DCOM) - What Are Investment Firms Saying About This Stock?

Key Points

• Analysts rate Dime Community Bancshares a “Moderate Buy”: Four of six analysts recommend buying, with an average 12-month price target of $45.50; recent targets range from $47 to $50.
• The bank reported quarterly EPS of $0.91, beating the $0.86 consensus, and revenue of $135.35 million, above estimates of $131.16 million.
• Dime paid a quarterly dividend of $0.25, equivalent to $1.00 annually and a 2.4% yield.

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $45.50.

Several research firms have weighed in on DCOM. Piper Sandler restated an "overweight" rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Finally, DA Davidson set a $50.00 target price on Dime Community Bancshares in a research report on Thursday, October 22nd.

Dime Community Bancshares Stock Down 0.0%

Shares of DCOM traded down $0.00 during mid-day trading on Friday, hitting $42.23. 232,197 shares of the company's stock were exchanged, compared to its average volume of 317,389. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 17.89 and a beta of 0.98. The firm has a fifty day moving average of $40.73 and a two-hundred day moving average of $38.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares has a twelve month low of $25.63 and a twelve month high of $44.89.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last released its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. The business had revenue of $135.35 million during the quarter, compared to analyst estimates of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter in the previous year, the business earned $0.59 EPS. On average, sell-side analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares's payout ratio is presently 32.47%.

Insider Activity

In related news, Director Joseph Perry sold 3,000 shares of the company's stock in a transaction on Wednesday, October 28th. The shares were sold at an average price of $16.88, for a total transaction of $50,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Judy Wu sold 887 shares of the company's stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $42.33, for a total transaction of $37,546.71. Following the sale, the executive vice president directly owned 3,882 shares of the company's stock, valued at approximately $164,325.06. This represents a 18.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 207,795 shares of company stock valued at $8,789,276 over the last three months. Corporate insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of Dime Community Bancshares during the 2nd quarter worth about $251,937,000. Dimensional Fund Advisors LP lifted its stake in Dime Community Bancshares by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company's stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. Basswood Capital Management L.L.C. bought a new position in Dime Community Bancshares during the second quarter worth about $79,106,000. The Manufacturers Life Insurance Company bought a new position in Dime Community Bancshares during the second quarter worth about $18,911,000. Finally, Royce & Associates LP boosted its holdings in Dime Community Bancshares by 2.6% during the third quarter. Royce & Associates LP now owns 439,078 shares of the savings and loans company's stock valued at $17,308,000 after purchasing an additional 11,211 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc. is the bank holding company for Dime Community Bank, a community bank headquartered in Hauppauge, New York. The bank offers deposit accounts and lending services to individuals, businesses and organizations. Its lending activities include commercial real estate, multifamily, commercial business, residential mortgage and consumer loans. The bank also provides cash management and other banking services to business customers. Dime traces its roots to the Dime Savings Bank of Williamsburgh, founded in Brooklyn in 1864.

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