Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives $34.20 Consensus PT from Analysts

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has been assigned an average rating of “Buy” from the five ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $34.20.

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their target price on Dime Community Bancshares from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $30.00 to $39.00 in a report on Monday, November 18th. Finally, Raymond James boosted their price target on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd.

Insider Transactions at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 29,000 shares of Dime Community Bancshares stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $32.00 per share, with a total value of $928,000.00. Following the completion of the transaction, the director now directly owns 1,044,221 shares in the company, valued at approximately $33,415,072. This represents a 2.86 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at approximately $720,742.80. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 9.10% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Large investors have recently modified their holdings of the stock. Kimelman & Baird LLC purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $56,000. GAMMA Investing LLC boosted its stake in shares of Dime Community Bancshares by 30.4% in the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after purchasing an additional 685 shares during the period. Nisa Investment Advisors LLC grew its holdings in Dime Community Bancshares by 496.9% during 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 purchasing an additional 4,000 shares in the last quarter. Quest Partners LLC acquired a new stake in Dime Community Bancshares during the 2nd quarter valued at $101,000. Finally, Vontobel Holding Ltd. purchased a new stake in Dime Community Bancshares during the 3rd quarter worth $235,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Trading Down 0.6 %

NASDAQ DCOM opened at $34.33 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $1.34 billion, a P/E ratio of 22.89 and a beta of 1.03. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $37.60. The firm has a 50-day moving average price of $32.74 and a 200 day moving average price of $26.46.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. The business had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts expect that Dime Community Bancshares will post 1.49 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a $0.25 dividend. The ex-dividend date was Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 2.91%. Dime Community Bancshares’s payout ratio is currently 66.67%.

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.