Dime Community Bancshares (NASDAQ:DCOM) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a sell rating to a hold rating in a research report sent to investors on Friday.

DCOM has been the subject of a number of other research reports. Piper Sandler lowered Dime Community Bancshares from an overweight rating to a neutral rating and increased their target price for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods raised their price objective on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Dime Community Bancshares presently has an average rating of Moderate Buy and an average target price of $27.25.

Dime Community Bancshares Trading Up 1.1 %

Shares of DCOM opened at $26.01 on Friday. The business’s 50-day moving average price is $23.92 and its 200 day moving average price is $20.63. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1.02 billion, a P/E ratio of 14.61 and a beta of 1.00. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The business had revenue of $171.23 million for the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same period last year, the firm posted $0.68 earnings per share. Analysts expect that Dime Community Bancshares will post 1.59 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.84%. Dime Community Bancshares’s dividend payout ratio is 56.18%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DCOM. Kimelman & Baird LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at about $56,000. Nisa Investment Advisors LLC lifted its stake in Dime Community Bancshares by 496.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC bought a new stake in Dime Community Bancshares in the second quarter worth approximately $101,000. EMC Capital Management grew its position in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Dime Community Bancshares during the 2nd quarter worth $235,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.