Dime Community Bancshares (NASDAQ:DCOM) Shares Gap Down - What's Next?

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $31.23, but opened at $29.05. Dime Community Bancshares shares last traded at $30.83, with a volume of 10,184 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler upgraded Dime Community Bancshares from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods cut their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, Stephens upgraded shares of Dime Community Bancshares from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $30.00 to $39.00 in a report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.40.

Dime Community Bancshares Stock Up 1.7 %

The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $1.27 billion, a P/E ratio of 55.28 and a beta of 1.05. The firm's fifty day moving average is $32.43 and its 200 day moving average is $29.47.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. As a group, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 2.99 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.07%. The ex-dividend date was Friday, January 17th. Dime Community Bancshares's payout ratio is presently 169.49%.

Insider Buying and Selling

In other news, Director Basswood Capital Management, L purchased 1,043 shares of the company's stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $31.23 per share, for a total transaction of $32,572.89. Following the transaction, the director now owns 1,043 shares of the company's stock, valued at approximately $32,572.89. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Michael Fegan sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the sale, the chief technology officer now directly owns 20,155 shares of the company's stock, valued at $720,742.80. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. 9.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Stieven Capital Advisors L.P. lifted its holdings in shares of Dime Community Bancshares by 86.3% in the 4th quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company's stock worth $19,060,000 after purchasing an additional 287,195 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company's stock valued at $13,851,000 after buying an additional 263,225 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Dime Community Bancshares by 433.6% in the 4th quarter. New York State Common Retirement Fund now owns 277,168 shares of the savings and loans company's stock worth $8,519,000 after purchasing an additional 225,227 shares during the period. Royce & Associates LP increased its position in Dime Community Bancshares by 47.4% in the third quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company's stock worth $14,505,000 after buying an additional 162,004 shares during the last quarter. Finally, Systematic Financial Management LP lifted its holdings in Dime Community Bancshares by 15.1% during the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company's stock valued at $31,416,000 after purchasing an additional 143,402 shares during the last quarter. Institutional investors own 75.27% of the company's stock.

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.