Dime Community Bancshares (NASDAQ:DCOM) Given New $36.00 Price Target at Raymond James

Dime Community Bancshares (NASDAQ:DCOM) had its price target lifted by Raymond James from $35.00 to $36.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has a strong-buy rating on the savings and loans company’s stock.

A number of other research analysts also recently issued reports on the stock. StockNews.com downgraded shares of Dime Community Bancshares from a hold rating to a sell rating in a research report on Saturday, September 21st. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an outperform rating in a research note on Thursday, July 25th. Finally, Piper Sandler lowered shares of Dime Community Bancshares from an overweight rating to a neutral rating and upped their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $29.50.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $27.60 on Wednesday. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $30.12. The firm has a fifty day simple moving average of $25.21 and a 200 day simple moving average of $21.46. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 15.51 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The business had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 million. During the same period last year, the firm earned $0.68 earnings per share. Research analysts forecast that Dime Community Bancshares will post 1.6 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Kimelman & Baird LLC bought a new position in shares of Dime Community Bancshares in the second quarter worth approximately $56,000. Nisa Investment Advisors LLC boosted its stake in shares of Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after purchasing an additional 4,000 shares during the period. Quest Partners LLC purchased a new stake in shares of Dime Community Bancshares during the second quarter valued at approximately $101,000. EMC Capital Management boosted its stake in shares of Dime Community Bancshares by 42.2% during the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after purchasing an additional 2,924 shares during the period. Finally, Denali Advisors LLC purchased a new stake in shares of Dime Community Bancshares during the second quarter valued at approximately $235,000. 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.