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

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $39.75.

Several research firms have recently weighed in on DCOM. Keefe, Bruyette & Woods raised their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. DA Davidson raised their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Piper Sandler began coverage on Dime Community Bancshares in a research report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price on the stock. Stephens raised their target price on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Finally, Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th.

Insider Buying and Selling

In related news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction that occurred 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 in the company, valued at approximately $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors have recently added to or reduced their stakes in DCOM. Royal Bank of Canada lifted its position in Dime Community Bancshares by 15.7% during the first quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock worth $645,000 after buying an additional 3,135 shares in the last quarter. AQR Capital Management LLC lifted its position 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 buying an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 buying an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. lifted 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 worth $9,060,000 after buying an additional 18,195 shares in the last quarter. Finally, Empowered Funds LLC lifted 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 worth $2,289,000 after buying an additional 4,231 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $35.72 on Friday. The company has a market capitalization of $1.58 billion, a P/E ratio of 15.13 and a beta of 1.00. The business’s 50 day moving average is $34.70 and its two-hundred day moving average is $32.15. 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 has a 12-month low of $24.57 and a 12-month high of $37.90.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a dividend of $0.25 per share. The ex-dividend date was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 37.59%.

About Dime Community Bancshares

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.