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.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Stephens cut Dime Community Bancshares from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $36.00 to $34.50 in a research report on Monday, May 16th. Raymond James cut 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 research report on Thursday, July 7th. Finally, Piper Sandler dropped their price objective on Dime Community Bancshares from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Friday, June 3rd.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $34.32 on Thursday. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of 9.86 and a beta of 1.08. Dime Community Bancshares has a 52-week low of $28.36 and a 52-week high of $38.35. The stock has a fifty day moving average of $30.95 and a 200 day moving average of $32.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.93 and a current ratio of 0.94.

Dime Community Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 18th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Friday, July 15th. Dime Community Bancshares's dividend payout ratio (DPR) is currently 27.59%.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 25,000 shares of Dime Community Bancshares stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $29.25, for a total transaction of $731,250.00. Following the completion of the sale, the director now owns 69,545 shares of the company's stock, valued at $2,034,191.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Raymond A. Nielsen bought 1,798 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $34.18 per share, with a total value of $61,455.64. Following the purchase, the director now owns 37,392 shares in the company, valued at approximately $1,278,058.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Basswood Capital Management, L sold 25,000 shares of the business's stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $29.25, for a total value of $731,250.00. Following the completion of the sale, the director now directly owns 69,545 shares of the company's stock, valued at approximately $2,034,191.25. The disclosure for this sale can be found here. Insiders sold a total of 122,237 shares of company stock valued at $3,748,558 over the last 90 days. Insiders own 15.30% of the company's stock.