Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $42.25.

Separately, Piper Sandler reissued an “overweight” rating and issued a $47.00 price objective on shares of Dime Community Bancshares in a report on Wednesday.

Dime Community Bancshares News Summary

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: Q3 earnings exceeded expectations: DCOM reported earnings of $0.91 per share, above analyst estimates of approximately $0.86-$0.87 and up from $0.59-$0.61 a year earlier. Revenue reached $135.35 million, also topping the $131.16 million consensus estimate. Dime Community Bancshares Q3 earnings report
• Positive Sentiment: Management highlighted profitable growth: The Q3 earnings call reinforced the bank’s improving earnings trajectory, supported by year-over-year EPS growth and a 15.15% net margin. Return on equity was 9.12%, providing additional evidence of solid profitability. Dime Community Bancshares earnings call summary
• Positive Sentiment: Expansion in Staten Island: Dime Commercial Bancshares agreed to acquire ES Bancshares, Inc., a deal intended to strengthen DCOM’s Staten Island presence and enhance its franchise value. The transaction could expand the company’s local deposit and lending platform. Dime Community Bancshares acquisition announcement
• Neutral Sentiment: Investors will monitor execution: While the acquisition offers growth potential, its eventual effect on earnings will depend on transaction completion, integration costs and the ability to realize expected franchise and operating benefits.

Insider Buying and Selling

In other news, Director Basswood Capital Management, L sold 53,000 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $40.76, for a total value of $2,160,280.00. Following the completion of the sale, the director directly owned 6,440 shares in the company, valued at approximately $262,494.40. The trade was a 89.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond A. Nielsen sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.73, for a total value of $75,114.00. Following the sale, the director directly owned 32,400 shares in the company, valued at approximately $1,352,052. This represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 134,595 shares of company stock worth $5,506,229. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Large investors have recently added to or reduced their stakes in the company. Nykredit A S bought a new stake in Dime Community Bancshares during the second quarter valued at $35,000. Hilton Head Capital Partners LLC raised its holdings in shares of 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 worth $49,000 after purchasing an additional 512 shares during the period. USA Financial Formulas acquired a new stake in shares of Dime Community Bancshares during the third quarter worth $73,000. Maryland State Retirement & Pension System bought a new position in shares of Dime Community Bancshares in the 1st quarter worth about $202,000. Finally, Odyssean LLC bought a new position in shares of Dime Community Bancshares in the 2nd quarter worth about $203,000. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Stock Down 1.2%

Shares of DCOM traded down $0.47 during midday trading on Wednesday, hitting $40.53. The company had a trading volume of 33,613 shares, compared to its average volume of 311,533. The company’s 50 day moving average price is $40.08 and its 200 day moving average price is $38.89. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 17.18 and a beta of 1.01. Dime Community Bancshares has a 52 week low of $25.63 and a 52 week high of $41.97. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The business had revenue of $135.35 million for the quarter, compared to analyst estimates of $131.16 million. During the same quarter in the prior year, the business posted $0.59 EPS. On average, equities research analysts predict that Dime Community Bancshares will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.