Dime Community Bancshares (NASDAQ:DCOM) Reaches New 12-Month High - What's Next?

Key Points

• Dime Community Bancshares hit a new 52-week high of $37.75 and last traded around $37.57, giving it a market capitalization of about $1.63 billion and a P/E of 15.78.
• Analysts have a consensus rating of "Moderate Buy" with an average target of $39.75, and several firms (including DA Davidson and Keefe, Bruyette & Woods) have recently raised targets to $43 and issued buy/outperform ratings.
• The company pays a quarterly dividend of $0.25 (annualized $1.00) for a yield of 2.7%; CEO Stuart H. Lubow sold 19,550 shares in February (an 8.8% reduction) and insiders collectively own 7.4% of the stock.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report)'s stock price reached a new 52-week high on Thursday . The stock traded as high as $37.75 and last traded at $37.5710, with a volume of 7937 shares trading hands. The stock had previously closed at $37.19.

Analysts Set New Price Targets

DCOM has been the subject of several recent research reports. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an "overweight" rating and a $37.00 target price for the company. Wall Street Zen lowered shares of Dime Community Bancshares from a "buy" rating to a "hold" rating in a report on Saturday, February 28th. DA Davidson lifted their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, April 27th. Weiss Ratings raised shares of Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an "outperform" rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.75.

Dime Community Bancshares Stock Up 0.1%

The business's 50 day moving average is $34.18 and its 200-day moving average is $31.77. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 15.78 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 Dividend Announcement

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

Insider Transactions at Dime Community Bancshares

In related news, CEO Stuart H. Lubow sold 19,550 shares of Dime Community Bancshares stock in a transaction on Friday, February 13th. The shares were sold at an average price of $35.07, for a total value of $685,618.50. Following the sale, the chief executive officer owned 202,648 shares of the company's stock, valued at approximately $7,106,865.36. This trade represents a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.40% of the company's stock.

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. Hilton Head Capital Partners LLC acquired a new stake in Dime Community Bancshares during the 4th quarter worth $28,000. Larson Financial Group LLC boosted its stake in Dime Community Bancshares by 742.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock worth $30,000 after purchasing an additional 884 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company's stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in Dime Community Bancshares during the 3rd quarter worth $169,000. Finally, Maryland State Retirement & Pension System acquired a new stake in Dime Community Bancshares during the 1st quarter worth $202,000. 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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