Dime Community Bancshares (NASDAQ:DCOM) Now Covered by Piper Sandler

Piper Sandler assumed coverage on shares of Dime Community Bancshares (NASDAQ:DCOM) in a report published on Monday. The firm issued an overweight rating and a $37.00 price objective on the savings and loans company’s stock.

DCOM has been the subject of a number of other reports. Keefe, Bruyette & Woods increased their price objective on shares of Dime Community Bancshares from $34.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 22nd. Stephens boosted their target price on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. DA Davidson upped their target price on shares of Dime Community Bancshares from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, January 22nd. Zacks Research raised shares of Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average price target of $38.00.

Dime Community Bancshares Price Performance

Shares of Dime Community Bancshares stock opened at $32.19 on Monday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 13.64 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $32.97 and its 200-day simple moving average is $30.64. Dime Community Bancshares has a 52 week low of $23.25 and a 52 week high of $36.86.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.09. The firm had revenue of $123.85 million during the quarter, compared to analysts’ expectations of $118.14 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.During the same quarter last year, the business posted $0.42 earnings per share. As a group, analysts expect that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Insider Activity at Dime Community Bancshares

In other news, CEO Stuart H. Lubow sold 19,550 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $35.07, for a total transaction of $685,618.50. Following the completion of the transaction, the chief executive officer directly owned 202,648 shares in the company, valued at approximately $7,106,865.36. This represents a 8.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L sold 7,500 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $34.83, for a total transaction of $261,225.00. Following the completion of the transaction, the director directly owned 1,006,319 shares of the company’s stock, valued at approximately $35,050,090.77. This trade represents a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 52,865 shares of company stock worth $1,829,983 over the last ninety days. Insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DCOM. Royal Bank of Canada lifted its holdings in shares of Dime Community Bancshares by 15.7% in the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock valued at $645,000 after acquiring an additional 3,135 shares during the last quarter. AQR Capital Management LLC increased its stake in Dime Community Bancshares by 132.3% during the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock worth $4,726,000 after acquiring an additional 96,523 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Dime Community Bancshares by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock worth $659,000 after acquiring an additional 3,443 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Dime Community Bancshares by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock valued at $9,060,000 after purchasing an additional 18,195 shares during the period. Finally, Empowered Funds LLC raised its position in Dime Community Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock valued at $2,289,000 after purchasing an additional 4,231 shares during the period. 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.