Dime Community Bancshares - DCOM Stock Forecast, Price & News

Dime Community Bancshares, Inc. operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans. In addition, it invests in Federal Home Loan Bank, Federal National Mortgage Association, Government National Mortgage Association, and Federal Home Loan Mortgage Corporation mortgage-backed securities, collateralized mortgage obligations, and other asset backed securities; U.S. Treasury securities; New York state and local municipal obligations; U.S. government-sponsored enterprise securities; and corporate bonds. Further, the company offers certificate of deposit account registry services and insured cash sweep programs; merchant credit and debit card processing, automated teller machines, cash management services, lockbox processing, online banking services, remote deposit capture, safe deposit boxes, and individual retirement accounts; investment products and services through a third-party broker dealer; and title insurance broker services. As of December 31, 2021, it operated 60 branch locations throughout Long Island and the New York City boroughs of Brooklyn, Queens, Manhattan, and the Bronx. Dime Community Bancshares, Inc. was founded in 1910 and is headquartered in Hauppauge, New York.

Wall Street Analyst Weigh In

DCOM has been the subject of several analyst reports. Stephens downgraded Dime Community Bancshares from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $36.00 to $34.50 in a research report on Monday, May 16th. Piper Sandler decreased their target price on Dime Community Bancshares from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Friday, June 3rd. Finally, Raymond James downgraded Dime Community Bancshares from a "strong-buy" rating to an "outperform" rating and reduced their price target for the company from $41.00 to $34.00 in a report on Thursday, July 7th.

Dime Community Bancshares Trading Up 0.4 %

Shares of DCOM opened at $34.50 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.91 and a beta of 1.08. Dime Community Bancshares has a one year low of $28.36 and a one year high of $38.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a 50-day moving average price of $31.39 and a 200 day moving average price of $32.62.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 25th. Investors of record on Monday, July 18th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Friday, July 15th. Dime Community Bancshares's dividend payout ratio is currently 27.59%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Raymond A. Nielsen acquired 1,798 shares of the business's stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $34.18 per share, for a total transaction of $61,455.64. Following the completion of the purchase, the director now directly owns 37,392 shares of the company's stock, valued at approximately $1,278,058.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 45,094 shares of the company's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $31.44, for a total transaction of $1,417,755.36. Following the sale, the director now owns 2,071,798 shares in the company, valued at $65,137,329.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond A. Nielsen acquired 1,798 shares of the business's stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $34.18 per share, for a total transaction of $61,455.64. Following the purchase, the director now directly owns 37,392 shares of the company's stock, valued at $1,278,058.56. The disclosure for this purchase can be found here. Insiders have sold 133,091 shares of company stock worth $4,390,279 over the last quarter. 15.30% of the stock is owned by corporate insiders.