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

Dime Community Bancshares (NASDAQ:DCOM) had its price objective lowered by Stephens from $36.00 to $32.50 in a research note released on Wednesday, Marketbeat Ratings reports. Stephens currently has an overweight rating on the savings and loans company’s stock.

Other equities research analysts also recently issued reports about the stock. Keefe, Bruyette & Woods decreased their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Dime Community Bancshares has an average rating of “Buy” and a consensus target price of $36.88.

Dime Community Bancshares Stock Down 1.5 %

NASDAQ DCOM opened at $25.62 on Wednesday. The business has a fifty day moving average price of $27.49 and a two-hundred day moving average price of $30.60. The stock has a market capitalization of $1.12 billion, a PE ratio of 43.42 and a beta of 0.96. Dime Community Bancshares has a fifty-two week low of $17.49 and a fifty-two week high of $37.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03.

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

Dime Community Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be issued a $0.3438 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 5.37%. This is a positive change from Dime Community Bancshares’s previous quarterly dividend of $0.25. Dime Community Bancshares’s dividend payout ratio (DPR) is 158.73%.

Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $31.25, for a total value of $93,750.00. Following the sale, the director now owns 41,185 shares of the company’s stock, valued at $1,287,031.25. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the completion of the sale, the director now owns 37,147 shares of the company’s stock, valued at $1,158,986.40. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 1,729 shares of company stock valued at $48,021 in the last ninety days. 7.10% of the stock is currently owned by insiders.

Institutional Trading of Dime Community Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. CoreCap Advisors LLC lifted its position in shares of Dime Community Bancshares by 125.0% in the 4th quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company’s stock worth $28,000 after purchasing an additional 500 shares during the period. Sterling Capital Management LLC raised its stake in Dime Community Bancshares by 861.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company’s stock worth $35,000 after buying an additional 1,017 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Dime Community Bancshares by 58.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 654 shares during the period. KBC Group NV boosted its position in Dime Community Bancshares by 50.8% during the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after acquiring an additional 909 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in Dime Community Bancshares during the 4th quarter worth about $92,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.