Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock Has Consensus Target Price of $45.50 According to Analysts

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $45.50.

Several equities research analysts have recently commented on DCOM shares. DA Davidson set a $50.00 target price on shares of Dime Community Bancshares in a research note on Thursday, October 22nd. Piper Sandler reiterated an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st.

Insider Activity

In other news, CTO Michael Fegan sold 2,355 shares of Dime Community Bancshares stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $41.81, for a total value of $98,462.55. Following the completion of the transaction, the chief technology officer owned 25,618 shares in the company, valued at approximately $1,071,088.58. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Judy Wu sold 887 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $42.33, for a total value of $37,546.71. Following the completion of the transaction, the executive vice president directly owned 3,882 shares in the company, valued at $164,325.06. The trade was a 18.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 207,795 shares of company stock valued at $8,789,276 over the last three months. 7.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of DCOM. BlackRock Inc. bought a new position in Dime Community Bancshares in the 2nd quarter valued at $251,937,000. Dimensional Fund Advisors LP boosted its stake in Dime Community Bancshares by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after purchasing an additional 23,035 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in Dime Community Bancshares in the second quarter worth $79,106,000. The Manufacturers Life Insurance Company bought a new stake in shares of Dime Community Bancshares during the second quarter worth $18,911,000. Finally, Royce & Associates LP grew its holdings in shares of Dime Community Bancshares by 2.6% during the third quarter. Royce & Associates LP now owns 439,078 shares of the savings and loans company’s stock worth $17,308,000 after purchasing an additional 11,211 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Price Performance

DCOM stock traded down $0.00 during trading on Friday, hitting $42.23. The company had a trading volume of 232,197 shares, compared to its average volume of 317,389. The company has a fifty day moving average price of $40.73 and a two-hundred day moving average price of $38.03. Dime Community Bancshares has a fifty-two week low of $25.63 and a fifty-two week high of $44.89. The company has a market cap of $1.85 billion, a P/E ratio of 17.89 and a beta of 0.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $135.35 million during the quarter, compared to analyst estimates of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same period in the prior year, the company posted $0.59 earnings per share. Equities research analysts expect that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio is currently 32.47%.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc. is the bank holding company for Dime Community Bank, a community bank headquartered in Hauppauge, New York. The bank offers deposit accounts and lending services to individuals, businesses and organizations. Its lending activities include commercial real estate, multifamily, commercial business, residential mortgage and consumer loans. The bank also provides cash management and other banking services to business customers. Dime traces its roots to the Dime Savings Bank of Williamsburgh, founded in Brooklyn in 1864.