Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) has earned a consensus rating of "Buy" from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $34.20.
Several research firms have commented on DCOM. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $38.00 to $42.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 4th. Stephens raised shares of Dime Community Bancshares from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $30.00 to $39.00 in a report on Monday, November 18th. Raymond James boosted their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the company a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered shares of Dime Community Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, September 21st.
Check Out Our Latest Report on Dime Community Bancshares
Insider Buying and Selling
In other news, CTO Michael Fegan sold 2,000 shares of Dime Community Bancshares stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the sale, the chief technology officer now owns 20,155 shares of the company's stock, valued at approximately $720,742.80. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Basswood Capital Management, L purchased 29,000 shares of Dime Community Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the transaction, the director now directly owns 1,044,221 shares of the company's stock, valued at $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.10% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Kimelman & Baird LLC bought a new stake in shares of Dime Community Bancshares during the 2nd quarter worth $56,000. GAMMA Investing LLC increased its holdings in shares of Dime Community Bancshares by 30.4% during the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company's stock worth $85,000 after buying an additional 685 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company's stock valued at $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $101,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of Dime Community Bancshares during the third quarter worth about $235,000. 75.27% of the stock is owned by institutional investors.
Dime Community Bancshares Stock Down 0.6 %
Shares of DCOM traded down $0.22 during midday trading on Friday, reaching $34.33. 320,866 shares of the stock were exchanged, compared to its average volume of 237,037. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 22.65 and a beta of 1.03. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Dime Community Bancshares has a 12-month low of $17.29 and a 12-month high of $37.60. The firm has a 50 day simple moving average of $32.62 and a 200-day simple moving average of $26.24.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The business had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the business posted $0.56 EPS. Research analysts forecast that Dime Community Bancshares will post 1.49 EPS for the current year.
Dime Community Bancshares Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. Dime Community Bancshares's dividend payout ratio (DPR) is presently 66.67%.
About Dime Community Bancshares
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Get Free ReportDime 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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