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Dime Community Bancshares, Inc. (NASDAQ:DCOM) Given Consensus Rating of "Buy" by Brokerages

Dime Community Bancshares logo with Finance background

Key Points

  • Dime Community Bancshares, Inc. has received an average rating of "Buy" from five brokerage firms, with one firm rating it a "strong buy".
  • The company recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend of $1.00 and a yield of 3.5%.
  • Insider trading activity indicates a modest decline in ownership, with significant sales from directors in September, while institutional ownership stands at 75.27%.
  • Interested in Dime Community Bancshares? Here are five stocks we like better.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) has earned an average rating of "Buy" from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $37.1667.

Several equities research analysts have recently commented on the company. DA Davidson upgraded Dime Community Bancshares to a "strong-buy" rating in a report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Dime Community Bancshares in a research note on Wednesday, October 8th.

Get Our Latest Analysis on DCOM

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,000 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.92, for a total transaction of $30,920.00. Following the completion of the sale, the director owned 38,185 shares in the company, valued at approximately $1,180,680.20. This represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Basswood Capital Management, L sold 9,000 shares of the firm's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $30.33, for a total transaction of $272,970.00. Following the transaction, the director directly owned 1,034,158 shares in the company, valued at $31,366,012.14. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.10% of the stock is owned by insiders.

Institutional Trading of Dime Community Bancshares

A number of large investors have recently added to or reduced their stakes in DCOM. GAMMA Investing LLC boosted its stake in Dime Community Bancshares by 15.1% in the third quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company's stock valued at $133,000 after acquiring an additional 584 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Dime Community Bancshares by 1,142.7% in the second quarter. Osaic Holdings Inc. now owns 14,216 shares of the savings and loans company's stock valued at $383,000 after purchasing an additional 13,072 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in Dime Community Bancshares by 3.3% during the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company's stock valued at $699,000 after purchasing an additional 819 shares during the period. Squarepoint Ops LLC raised its stake in shares of Dime Community Bancshares by 59.6% in the second quarter. Squarepoint Ops LLC now owns 86,946 shares of the savings and loans company's stock valued at $2,342,000 after buying an additional 32,467 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in shares of Dime Community Bancshares by 7.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 134,413 shares of the savings and loans company's stock valued at $3,621,000 after buying an additional 9,889 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Dime Community Bancshares Stock Up 3.7%

Shares of NASDAQ DCOM opened at $28.85 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.27 billion, a PE ratio of 34.35 and a beta of 1.10. The company's fifty day simple moving average is $30.04 and its 200 day simple moving average is $27.91. Dime Community Bancshares has a 12-month low of $23.25 and a 12-month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.01. The firm had revenue of $109.54 million for the quarter, compared to analyst estimates of $107.08 million. Dime Community Bancshares had a net margin of 6.74% and a return on equity of 6.90%. During the same quarter in the prior year, the business earned $0.37 earnings per share. As a group, sell-side analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Friday, October 17th. Dime Community Bancshares's dividend payout ratio is currently 119.05%.

Dime Community Bancshares Company Profile

(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.

Further Reading

Analyst Recommendations for Dime Community Bancshares (NASDAQ:DCOM)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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