Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $39.75.

A number of brokerages have weighed in on DCOM. Keefe, Bruyette & Woods raised their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. DA Davidson raised their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Piper Sandler began coverage on Dime Community Bancshares in a 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 report on Saturday, February 28th.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, CEO Stuart H. Lubow sold 19,550 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $35.07, for a total value of $685,618.50. Following the sale, the chief executive officer owned 202,648 shares of the company’s stock, valued at approximately $7,106,865.36. This trade represents a 8.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its stake in shares of Dime Community Bancshares by 2.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company’s stock valued at $561,000 after acquiring an additional 400 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Dime Community Bancshares by 3.6% in the 3rd quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock valued at $347,000 after acquiring an additional 406 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Dime Community Bancshares by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock valued at $878,000 after acquiring an additional 449 shares during the last quarter. Hilton Head Capital Partners LLC lifted its stake in shares of Dime Community Bancshares by 54.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock valued at $49,000 after acquiring an additional 512 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Dime Community Bancshares by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock valued at $718,000 after acquiring an additional 683 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Trading Up 0.6%

Shares of NASDAQ:DCOM opened at $37.28 on Friday. The business’s 50 day simple moving average is $34.27 and its 200 day simple moving average is $31.84. The company has a market capitalization of $1.64 billion, a P/E ratio of 15.79 and a beta of 1.00. Dime Community Bancshares has a 1 year low of $24.57 and a 1 year high of $37.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were issued 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 of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

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.