Dime Community Bancshares, Inc. (NASDAQ:DCOM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $39.75.

Several equities analysts have commented on DCOM shares. Piper Sandler started coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 price target for the company. DA Davidson upped their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Wall Street Zen cut Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th.

Dime Community Bancshares Trading Up 0.8%

Dime Community Bancshares stock opened at $37.22 on Wednesday. The business has a 50 day moving average price of $35.75 and a two-hundred day moving average price of $32.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 15.77 and a beta of 1.00. Dime Community Bancshares has a 12 month low of $25.11 and a 12 month high of $38.00.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 annualized dividend and a yield of 2.7%. Dime Community Bancshares’s dividend payout ratio is 37.59%.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the completion of the transaction, the director owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the 4th quarter worth approximately $28,000. Larson Financial Group LLC raised its holdings in shares of Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dime Community Bancshares by 326.4% in 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. iSAM Funds UK Ltd acquired a new position in shares of Dime Community Bancshares in the 3rd quarter worth approximately $169,000. Finally, Maryland State Retirement & Pension System bought a new stake in Dime Community Bancshares during the 1st quarter worth approximately $202,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.