Keefe, Bruyette & Woods Reaffirms Outperform Rating for Dime Community Bancshares (NASDAQ:DCOM)

Keefe, Bruyette & Woods reiterated their outperform rating on shares of Dime Community Bancshares (NASDAQ:DCOM) in a research note published on Friday morning, Benzinga reports. They currently have a $25.50 target price on the savings and loans company’s stock.

DCOM has been the topic of a number of other research reports. Raymond James reduced their target price on Dime Community Bancshares from $30.00 to $27.00 and set an outperform rating on the stock in a report on Wednesday, March 13th. StockNews.com upgraded Dime Community Bancshares from a sell rating to a hold rating in a report on Monday, May 13th. Finally, DA Davidson restated a buy rating and set a $28.00 target price on shares of Dime Community Bancshares in a report on Thursday, March 14th.

Dime Community Bancshares Stock Up 1.8 %

NASDAQ DCOM opened at $20.40 on Friday. The business’s 50-day moving average is $18.97 and its 200 day moving average is $20.57. The stock has a market capitalization of $794.99 million, a PE ratio of 11.46 and a beta of 1.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.02 and a quick ratio of 1.02. Dime Community Bancshares has a 1 year low of $17.17 and a 1 year high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, April 23rd. The savings and loans company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.01. The firm had revenue of $82.00 million for the quarter, compared to analysts’ expectations of $80.15 million. Dime Community Bancshares had a return on equity of 7.76% and a net margin of 11.46%. Sell-side analysts forecast that Dime Community Bancshares will post 1.65 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.90%. Dime Community Bancshares’s payout ratio is currently 56.18%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AJOVista LLC purchased a new stake in shares of Dime Community Bancshares in the fourth quarter worth $82,000. GAMMA Investing LLC bought a new position in Dime Community Bancshares in the 4th quarter worth about $92,000. Arizona State Retirement System purchased a new stake in Dime Community Bancshares during the 4th quarter valued at about $263,000. EMC Capital Management increased its stake in Dime Community Bancshares by 42.2% during the 1st 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 in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in Dime Community Bancshares in the first quarter worth about $243,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

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.