Dime Community Bancshares (NASDAQ:DCOM) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Dime Community Bancshares' stock price crossed above its 200-day moving average of $27.81, reaching a high of $29.16 during trading.
• Analysts have mixed reviews: while Stephens lowered its price target from $36.00 to $32.50, Wall Street Zen upgraded the stock from "sell" to "hold," contributing to an average rating of "Buy" with a target of $36.88.
• The company reported earnings of $0.64 per share for the last quarter, beating estimates, along with revenue of $109.54 million, surpassing the consensus estimate of $107.08 million.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report)'s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $27.81 and traded as high as $29.16. Dime Community Bancshares shares last traded at $29.01, with a volume of 246,845 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stephens decreased their price target on Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen upgraded Dime Community Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $36.88.

Dime Community Bancshares Stock Performance

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 34.10 and a beta of 1.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a 50-day moving average price of $27.84 and a 200 day moving average price of $27.78.

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

Dime Community Bancshares Announces Dividend

The business also recently declared a dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 11th were paid a $0.3438 dividend. This represents a yield of 496.0%. The ex-dividend date was Friday, August 8th. Dime Community Bancshares's dividend payout ratio (DPR) is currently 119.05%.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total value of $51,160.00. Following the completion of the transaction, the director directly owned 35,392 shares in the company, valued at $905,327.36. This trade represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC grew its stake in Dime Community Bancshares by 125.0% in the fourth quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company's stock valued at $28,000 after purchasing an additional 500 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Dime Community Bancshares by 861.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company's stock valued at $35,000 after purchasing an additional 1,017 shares during the period. Hughes Financial Services LLC bought a new stake in Dime Community Bancshares in the 1st quarter valued at $37,000. Emerald Mutual Fund Advisers Trust bought a new stake in Dime Community Bancshares in the 2nd quarter valued at $97,000. Finally, GAMMA Investing LLC boosted its stake in Dime Community Bancshares by 14.0% in the 1st quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock valued at $110,000 after purchasing an additional 483 shares during the period. 75.27% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

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.