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

Key Points

• Dime Community Bancshares has a consensus analyst rating of “Moderate Buy” from six brokerages, with an average 12-month price target of $39.75.
• Recent analyst updates were mostly positive, including target price increases from DA Davidson and Keefe, Bruyette & Woods to $43, while Piper Sandler initiated coverage with an Overweight rating.
• The stock recently traded at $37.28, near its 52-week high of $37.90, and the company also paid a quarterly dividend of $0.25 per share, or $1.00 annually, for a 2.7% yield.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) has been given an average rating of "Moderate Buy" by the six brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $39.75.

Several research firms have issued reports on DCOM. Stephens upped their price objective on Dime Community Bancshares from $33.00 to $36.00 and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Weiss Ratings upgraded Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 9th. Piper Sandler initiated coverage on Dime Community Bancshares in a research note on Monday, March 16th. They set an "overweight" rating and a $37.00 target price on the stock. DA Davidson increased their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Finally, Keefe, Bruyette & Woods increased their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $37.28 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock's 50 day moving average price is $34.27 and its two-hundred day moving average price is $31.84. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 15.79 and a beta of 1.00. Dime Community Bancshares has a 12-month low of $24.57 and a 12-month high of $37.90.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. Dime Community Bancshares's dividend payout ratio (DPR) is 37.59%.

Insider Buying and Selling at Dime Community Bancshares

In other news, CEO Stuart H. Lubow sold 19,550 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $35.07, for a total transaction of $685,618.50. Following the transaction, the chief executive officer owned 202,648 shares in the company, valued at approximately $7,106,865.36. This trade represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently added to or reduced their stakes in DCOM. Royal Bank of Canada grew its position in Dime Community Bancshares by 15.7% during the first quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company's stock worth $645,000 after buying an additional 3,135 shares in the last quarter. AQR Capital Management LLC grew its position in Dime Community Bancshares by 132.3% during the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company's stock worth $4,726,000 after buying an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Dime Community Bancshares by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company's stock worth $659,000 after buying an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Dime Community Bancshares by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company's stock worth $9,060,000 after buying an additional 18,195 shares in the last quarter. Finally, Empowered Funds LLC grew its position in Dime Community Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company's stock worth $2,289,000 after buying an additional 4,231 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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