Analysts Set Dime Community Bancshares, Inc. (NASDAQ:DCOM) Price Target at $36.40

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have earned a consensus rating of “Buy” from the five brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.40.

DCOM has been the topic of several research analyst reports. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $30.00 to $39.00 in a research note on Monday, November 18th. Piper Sandler raised Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods decreased 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.

Insider Buying and Selling at Dime Community Bancshares

In other news, CTO Michael Fegan sold 2,000 shares of Dime Community Bancshares stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now owns 20,155 shares of the company’s stock, valued at $720,742.80. The trade was a 9.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Basswood Capital Management, L acquired 29,000 shares of Dime Community Bancshares stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price of $32.00 per share, with a total value of $928,000.00. Following the purchase, the director now owns 1,044,221 shares in the company, valued at $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.10% of the stock is owned by insiders.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently made changes to their positions in DCOM. Parkside Financial Bank & Trust raised its stake in Dime Community Bancshares by 58.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 654 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the fourth quarter valued at about $1,635,000. Oregon Public Employees Retirement Fund raised its position in Dime Community Bancshares by 12.1% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,258 shares of the savings and loans company’s stock worth $285,000 after buying an additional 1,000 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of Dime Community Bancshares by 9.4% in the 4th quarter. Amalgamated Bank now owns 11,395 shares of the savings and loans company’s stock valued at $350,000 after acquiring an additional 978 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Dime Community Bancshares by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 421,392 shares of the savings and loans company’s stock worth $12,951,000 after acquiring an additional 46,903 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Stock Up 3.6 %

NASDAQ:DCOM opened at $33.15 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 56.19 and a beta of 1.05. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $37.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $32.43 and a 200-day simple moving average of $29.47.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share 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%. Analysts anticipate that Dime Community Bancshares will post 2.99 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 169.49%.

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.