Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Dime Community Bancshares has a consensus analyst rating of “Moderate Buy” from six covering analysts, with an average 1-year price target of $39.75.
• The stock was trading at $40.53, near its 52-week high of $40.99, and the company also announced a quarterly dividend of $0.25 per share payable July 24, for an annualized yield of 2.5%.
• Recent activity showed insider selling and continued institutional ownership, with insiders holding 7.40% of shares and institutional investors owning 75.27% of the stock.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $39.75.

A number of equities analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They issued an "overweight" rating and a $37.00 price objective on the stock. DA Davidson raised their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, Wall Street Zen lowered shares of Dime Community Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, February 28th.

Dime Community Bancshares Stock Up 1.4%

Shares of DCOM opened at $40.53 on Friday. The company has a 50-day simple moving average of $37.47 and a 200-day simple moving average of $34.42. The firm has a market capitalization of $1.79 billion, a P/E ratio of 17.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares has a 52 week low of $25.63 and a 52 week high of $40.99.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Friday, July 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, July 17th. Dime Community Bancshares's dividend payout ratio (DPR) is presently 37.59%.

Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 1,650 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the sale, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Basswood Capital Management, L sold 32,751 shares of the firm's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the sale, the director owned 6,785 shares in the company, valued at approximately $264,750.70. The trade was a 82.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 78,803 shares of company stock worth $3,101,749. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC raised its holdings in shares of Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company's stock worth $49,000 after acquiring an additional 512 shares during the period. Illinois Municipal Retirement Fund grew its position in Dime Community Bancshares by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company's stock valued at $718,000 after purchasing an additional 683 shares in the last quarter. Orion Porfolio Solutions LLC grew its position in Dime Community Bancshares by 3.3% in 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 in the last quarter. Larson Financial Group LLC grew its position in Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock valued at $30,000 after purchasing an additional 884 shares in the last quarter. Finally, Gator Capital Management LLC grew its position in Dime Community Bancshares by 0.9% in the fourth quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company's stock valued at $3,315,000 after purchasing an additional 955 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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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