Dime Community Bancshares (NASDAQ:DCOM) Rating Increased to Overweight at Piper Sandler

Piper Sandler upgraded shares of Dime Community Bancshares (NASDAQ:DCOMFree Report) from a neutral rating to an overweight rating in a research note released on Thursday, MarketBeat Ratings reports. The brokerage currently has $38.00 price target on the savings and loans company’s stock, up from their prior price target of $36.00.

Other research analysts have also recently issued research reports about the stock. Raymond James lifted their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their price target on Dime Community Bancshares from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens upgraded Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and a consensus price target of $36.60.

Get Our Latest Stock Analysis on DCOM

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $31.00 on Thursday. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $37.60. 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 cap of $1.21 billion, a PE ratio of 20.67 and a beta of 1.05. The business has a 50-day simple moving average of $33.16 and a 200-day simple moving average of $28.87.

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. On average, equities analysts expect that Dime Community Bancshares will post 1.49 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, January 17th. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Insiders Place Their Bets

In other news, CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction dated 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 directly owns 20,155 shares of the company’s stock, valued at approximately $720,742.80. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Basswood Capital Management, L acquired 29,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were acquired at an average cost 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 position. The disclosure for this purchase can be found here. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quest Partners LLC lifted its position in Dime Community Bancshares by 9.4% during the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after buying an additional 465 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Dime Community Bancshares by 17.4% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after acquiring an additional 512 shares during the last quarter. KBC Group NV grew its holdings in shares of Dime Community Bancshares by 50.8% in the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after purchasing an additional 909 shares during the period. Nisa Investment Advisors LLC increased its position in Dime Community Bancshares by 31.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock worth $182,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Kimelman & Baird LLC purchased a new position in Dime Community Bancshares during the second quarter worth about $56,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Company Profile

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Dime Community Bancshares (NASDAQ:DCOM)

Receive News & Ratings for Dime Community Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dime Community Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.