Dime Community Bancshares (NASDAQ:DCOM) Trading Down 6.6% - What's Next?

Key Points

• Dime Community Bancshares (NASDAQ:DCOM) shares dropped 6.6% to $27.71, with a significant reduction in trading volume, down 83% from the average.
• Analysts maintain a generally positive outlook on the stock, with a consensus rating of "Buy" and a target price of $37.17.
• The company announced a quarterly dividend of $0.25 per share, with a payout ratio of 119.05% and an annualized yield of 3.6%.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report)'s share price fell 6.6% during trading on Thursday . The company traded as low as $27.75 and last traded at $27.71. 42,946 shares were traded during trading, a decline of 83% from the average session volume of 258,377 shares. The stock had previously closed at $29.66.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. DA Davidson raised Dime Community Bancshares to a "strong-buy" rating in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Dime Community Bancshares presently has an average rating of "Buy" and a consensus target price of $37.17.

Dime Community Bancshares Price Performance

The stock has a market cap of $1.23 billion, a PE ratio of 33.41 and a beta of 1.10. 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 firm's 50 day moving average price is $30.04 and its two-hundred day moving average price is $27.93.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm had revenue of $109.54 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.37 earnings per share. On average, research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 24th. Investors of record on Friday, October 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, October 17th. Dime Community Bancshares's payout ratio is presently 119.05%.

Insiders Place Their Bets

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

Institutional Trading of Dime Community Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its stake in shares of Dime Community Bancshares by 44.0% during the 3rd quarter. SG Americas Securities LLC now owns 11,346 shares of the savings and loans company's stock valued at $338,000 after purchasing an additional 3,468 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Dime Community Bancshares by 2.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company's stock valued at $561,000 after purchasing an additional 400 shares during the period. GAMMA Investing LLC raised its stake in shares of Dime Community Bancshares by 15.1% during the 3rd quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company's stock valued at $133,000 after purchasing an additional 584 shares during the period. Osaic Holdings Inc. raised its stake in shares of Dime Community Bancshares by 1,142.7% during the 2nd 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 period. Finally, Orion Porfolio Solutions LLC increased its stake in Dime Community Bancshares by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company's stock worth $699,000 after acquiring an additional 819 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Company Profile

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.

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