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

Stock analysts at Piper Sandler assumed coverage on shares of Dime Community Bancshares (NASDAQ:DCOM) in a research report issued on Monday. The brokerage set an “overweight” rating and a $37.00 price target on the savings and loans company’s stock. Piper Sandler’s target price would suggest a potential upside of 15.18% from the stock’s previous close.

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

Dime Community Bancshares Stock Up 0.8%

NASDAQ DCOM traded up $0.24 on Monday, reaching $32.12. The company had a trading volume of 35,630 shares, compared to its average volume of 283,097. 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 company’s fifty day moving average is $32.93 and its 200 day moving average is $30.63. Dime Community Bancshares has a 52-week low of $23.25 and a 52-week high of $36.86. The stock has a market capitalization of $1.41 billion, a P/E ratio of 13.61 and a beta of 1.09.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Wednesday, January 21st. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The firm had revenue of $123.85 million for the quarter, compared to the consensus estimate of $118.14 million. During the same period in the previous year, the firm earned $0.42 EPS. Sell-side analysts anticipate that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Insider Transactions at Dime Community Bancshares

In other Dime Community Bancshares news, CEO Stuart H. Lubow sold 19,550 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $35.07, for a total value of $685,618.50. Following the transaction, the chief executive officer directly owned 202,648 shares in the company, valued at $7,106,865.36. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Basswood Capital Management, L sold 20,339 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $33.96, for a total transaction of $690,712.44. Following the transaction, the director directly owned 1,013,819 shares of the company’s stock, valued at $34,429,293.24. This represents a 1.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 52,865 shares of company stock worth $1,829,983. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Dime Community Bancshares by 15.7% in 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 during the last quarter. AQR Capital Management LLC lifted its position in shares of Dime Community Bancshares by 132.3% during the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock valued at $4,726,000 after buying an additional 96,523 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Dime Community Bancshares by 17.1% during the 1st 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 period. Goldman Sachs Group Inc. grew its stake in shares of Dime Community Bancshares by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock worth $9,060,000 after acquiring an additional 18,195 shares during the period. Finally, Empowered Funds LLC increased its holdings in Dime Community Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock worth $2,289,000 after acquiring an additional 4,231 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

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.