Dime Community Bancshares (NASDAQ:DCOM) Sets New 12-Month High – Here’s What Happened

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.00 and last traded at $37.76, with a volume of 31816 shares changing hands. The stock had previously closed at $36.90.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DCOM shares. DA Davidson boosted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods boosted their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Piper Sandler started coverage on Dime Community Bancshares in a research report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price on the stock. Finally, Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Dime Community Bancshares Stock Up 0.4%

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $1.64 billion, a PE ratio of 15.79 and a beta of 1.00. The business has a 50-day moving average of $35.46 and a 200 day moving average of $32.77.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares’s payout ratio is currently 37.59%.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $37.09, for a total transaction of $61,198.50. Following the sale, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Amalgamated Bank raised its position in Dime Community Bancshares by 3.6% during the third quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock valued at $347,000 after purchasing an additional 406 shares during the period. Thrivent Financial for Lutherans raised its position in Dime Community Bancshares by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock valued at $878,000 after purchasing an additional 449 shares during the period. Hilton Head Capital Partners LLC raised its position in Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock valued at $49,000 after purchasing an additional 512 shares during the period. Illinois Municipal Retirement Fund raised its position in Dime Community Bancshares by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock valued at $718,000 after purchasing an additional 683 shares during the period. Finally, Orion Porfolio Solutions LLC raised its position in Dime Community Bancshares by 3.3% during the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock valued at $699,000 after purchasing an additional 819 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.