Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives $35.13 Average PT from Brokerages

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have received an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.1250.

Several research firms recently commented on DCOM. Weiss Ratings reiterated a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. Zacks Research lowered shares of Dime Community Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. DA Davidson initiated coverage on shares of Dime Community Bancshares in a research note on Monday, October 27th. They set a “buy” rating and a $36.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their price target on Dime Community Bancshares from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, October 27th.

Dime Community Bancshares Stock Down 5.0%

Shares of NASDAQ DCOM opened at $25.78 on Friday. The business has a 50-day moving average price of $28.87 and a 200 day moving average price of $28.17. The stock has a market cap of $1.13 billion, a PE ratio of 22.61 and a beta of 1.15. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Dime Community Bancshares has a 52-week low of $23.25 and a 52-week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Thursday, October 23rd. The savings and loans company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). The firm had revenue of $116.67 million during the quarter, compared to analysts’ expectations of $112.75 million. Dime Community Bancshares had a net margin of 8.72% and a return on equity of 7.81%. During the same quarter in the prior year, the firm posted $0.29 EPS. Equities research analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 24th. Shareholders of record on Friday, October 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. The ex-dividend date was Friday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 87.72%.

Insider Buying and Selling

In related news, Director Raymond A. Nielsen sold 2,200 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $26.29, for a total transaction of $57,838.00. Following the completion of the sale, the director directly owned 33,985 shares of the company’s stock, valued at $893,465.65. This trade represents a 6.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Basswood Capital Management, L acquired 20,537 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $26.26 per share, for a total transaction of $539,301.62. Following the completion of the transaction, the director owned 1,034,158 shares in the company, valued at $27,156,989.08. The trade was a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders sold 14,200 shares of company stock worth $414,948. Corporate insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in DCOM. Larson Financial Group LLC raised its holdings in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in Dime Community Bancshares in the 2nd quarter valued at approximately $97,000. GAMMA Investing LLC increased its position in Dime Community Bancshares by 15.1% during the 3rd quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company’s stock worth $133,000 after purchasing an additional 584 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after buying an additional 4,446 shares in the last quarter. Finally, CWM LLC raised its stake in shares of Dime Community Bancshares by 250.1% during the 1st quarter. CWM LLC now owns 6,035 shares of the savings and loans company’s stock worth $168,000 after buying an additional 4,311 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.