Brokerages Set Dime Community Bancshares, Inc. (NASDAQ:DCOM) Target Price at $39.75

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

Several analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th.

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $39.50 on Thursday. The firm has a 50-day simple moving average of $38.92 and a 200-day simple moving average of $35.69. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.74 and a beta of 0.99. 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 has a 52 week low of $25.63 and a 52 week high of $41.62.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were given a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Dime Community Bancshares’s dividend payout ratio is 36.10%.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the business’s stock in a transaction 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 transaction, the director owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Basswood Capital Management, L sold 32,751 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the transaction, the director directly owned 6,785 shares in the company, valued at $264,750.70. This trade represents a 82.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 78,803 shares of company stock valued at $3,101,749. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter valued at about $28,000. Larson Financial Group LLC increased its position 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 during the last quarter. Tower Research Capital LLC TRC increased its position in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the third quarter worth about $169,000. Finally, Maryland State Retirement & Pension System purchased a new position in Dime Community Bancshares during the first quarter worth about $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.