Dime Community Bancshares (NASDAQ:DCOM) Price Target Lowered to $32.50 at Stephens

Dime Community Bancshares (NASDAQ:DCOM) had its price target cut by Stephens from $36.00 to $32.50 in a report released on Wednesday,Benzinga reports. They currently have an overweight rating on the savings and loans company’s stock.

A number of other equities research analysts have also recently commented on DCOM. Piper Sandler raised Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.88.

Dime Community Bancshares Price Performance

Shares of DCOM opened at $25.81 on Wednesday. The firm has a market cap of $1.13 billion, a PE ratio of 43.75 and a beta of 0.96. Dime Community Bancshares has a 52-week low of $17.49 and a 52-week high of $37.60. The business’s 50 day moving average price is $27.72 and its two-hundred day moving average price is $30.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, April 22nd. The savings and loans company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. The business had revenue of $103.83 million for the quarter, compared to analyst estimates of $105.83 million. During the same period in the prior year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Dime Community Bancshares will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 3.87%. Dime Community Bancshares’s dividend payout ratio (DPR) is 158.73%.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the transaction, the director now owns 41,185 shares of the company’s stock, valued at approximately $1,287,031.25. The trade was a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Basswood Capital Management, L bought 1,043 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were acquired at an average cost of $31.23 per share, with a total value of $32,572.89. Following the completion of the transaction, the director now owns 1,043 shares in the company, valued at approximately $32,572.89. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 1,729 shares of company stock valued at $48,021 in the last 90 days. 7.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Salzhauer Michael increased its position in Dime Community Bancshares by 17.0% in the first quarter. Salzhauer Michael now owns 72,367 shares of the savings and loans company’s stock worth $2,018,000 after buying an additional 10,533 shares during the last quarter. SG Americas Securities LLC raised its stake in Dime Community Bancshares by 314.4% in the 1st quarter. SG Americas Securities LLC now owns 16,023 shares of the savings and loans company’s stock valued at $447,000 after acquiring an additional 12,156 shares during the period. GAMMA Investing LLC lifted its holdings in Dime Community Bancshares by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company’s stock valued at $110,000 after purchasing an additional 483 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Dime Community Bancshares during the 4th quarter valued at approximately $39,073,000. Finally, California State Teachers Retirement System grew its stake in Dime Community Bancshares by 15.5% in the 4th quarter. California State Teachers Retirement System now owns 38,318 shares of the savings and loans company’s stock valued at $1,178,000 after buying an additional 5,129 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

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.