Analysts Set Dime Community Bancshares, Inc. (NASDAQ:DCOM) PT at $39.50

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $39.50.

Several research firms have issued reports on DCOM. Piper Sandler began coverage on Dime Community Bancshares in a research report on Tuesday, February 2nd. They set an “overweight” rating on the stock. Raymond James upgraded Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $17.00 to $43.00 in a research report on Tuesday, April 13th. Stephens upgraded Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $38.50 in a research report on Monday. Zacks Investment Research upgraded Dime Community Bancshares from a “strong sell” rating to a “hold” rating and set a $37.00 target price on the stock in a research report on Tuesday, April 27th. Finally, TheStreet upgraded Dime Community Bancshares from a “c” rating to a “b” rating in a research report on Monday, March 8th.

DCOM traded down $0.25 on Monday, hitting $34.48. 108,041 shares of the company traded hands, compared to its average volume of 226,365. The company has a 50 day moving average of $32.62 and a 200-day moving average of $23.64. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.27. The stock has a market capitalization of $1.14 billion, a PE ratio of 1.72 and a beta of 1.12. Dime Community Bancshares has a 12-month low of $16.51 and a 12-month high of $35.06.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Thursday, April 29th. The savings and loans company reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.13. Dime Community Bancshares had a return on equity of 8.40% and a net margin of 17.14%. On average, research analysts anticipate that Dime Community Bancshares will post 1.45 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 21st. Investors of record on Tuesday, May 11th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Monday, May 10th. Dime Community Bancshares’s dividend payout ratio is currently 88.89%.

In other news, insider Basswood Capital Management, L purchased 45,085 shares of the stock in a transaction that occurred on Tuesday, February 16th. The shares were acquired at an average price of $26.89 per share, for a total transaction of $1,212,335.65. Also, Director Basswood Partners, L.L.C. purchased 13,131 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was purchased at an average price of $27.02 per share, for a total transaction of $354,799.62. The disclosure for this purchase can be found here. Corporate insiders own 8.90% of the company’s stock.

Large investors have recently made changes to their positions in the business. Captrust Financial Advisors acquired a new stake in Dime Community Bancshares during the 4th quarter valued at $41,000. KBC Group NV acquired a new stake in Dime Community Bancshares during the 4th quarter valued at $60,000. Carolina Wealth Advisors LLC acquired a new stake in Dime Community Bancshares during the 1st quarter valued at $110,000. Brinker Capital Investments LLC acquired a new stake in Dime Community Bancshares during the 3rd quarter valued at $117,000. Finally, Citigroup Inc. grew its holdings in Dime Community Bancshares by 67.7% during the 4th quarter. Citigroup Inc. now owns 7,638 shares of the savings and loans company’s stock valued at $121,000 after buying an additional 3,083 shares during the last quarter. Hedge funds and other institutional investors own 71.78% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and NOW accounts, as well as certificates of deposit, demand deposits, and other time deposits.

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