Dime Community Bancshares (NASDAQ:DCOM) Trading Up 4%

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) traded up 4% during trading on Tuesday . The company traded as high as $24.85 and last traded at $24.80. 29,114 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 225,969 shares. The stock had previously closed at $23.85.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods restated an “outperform” rating and set a $25.50 price objective on shares of Dime Community Bancshares in a report on Friday, June 28th. StockNews.com raised Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $23.00 to $26.00 in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Dime Community Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

Dime Community Bancshares Stock Performance

The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day moving average of $19.73 and a 200-day moving average of $20.02. The firm has a market cap of $950.09 million, a price-to-earnings ratio of 14.29 and a beta of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $82.00 million for the quarter, compared to analyst estimates of $80.15 million. Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. As a group, analysts anticipate that Dime Community Bancshares, Inc. will post 1.66 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.10%. Dime Community Bancshares’s dividend payout ratio is 56.18%.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC lifted its position in shares of Dime Community Bancshares by 1,218.3% in the fourth quarter. First Eagle Investment Management LLC now owns 300,654 shares of the savings and loans company’s stock valued at $8,097,000 after buying an additional 277,847 shares during the last quarter. Stieven Capital Advisors L.P. bought a new position in shares of Dime Community Bancshares in the first quarter valued at about $4,702,000. Hennessy Advisors Inc. acquired a new stake in shares of Dime Community Bancshares during the 4th quarter worth about $3,016,000. Salzhauer Michael boosted its holdings in shares of Dime Community Bancshares by 446.0% during the 1st quarter. Salzhauer Michael now owns 129,915 shares of the savings and loans company’s stock worth $2,502,000 after buying an additional 106,121 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in Dime Community Bancshares by 48.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 163,148 shares of the savings and loans company’s stock valued at $4,394,000 after buying an additional 53,041 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

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.