Dime Community Bancshares (NASDAQ:DCOM) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Dime Community Bancshares (NASDAQ:DCOM) had its target price upped by equities researchers at Keefe, Bruyette & Woods from $38.00 to $42.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 17.22% from the stock’s previous close.

A number of other research analysts have also recently commented on DCOM. Raymond James boosted their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $30.00 to $39.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $34.20.

Dime Community Bancshares Trading Down 2.1 %

NASDAQ:DCOM opened at $35.83 on Wednesday. The business’s 50-day moving average is $31.90 and its two-hundred day moving average is $25.69. The firm has a market capitalization of $1.40 billion, a PE ratio of 23.89 and a beta of 1.03. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $37.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). The company had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the previous year, the business posted $0.56 earnings per share. Research analysts predict that Dime Community Bancshares will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the purchase, the director now directly owns 1,044,221 shares in the company, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors have recently modified their holdings of DCOM. The Manufacturers Life Insurance Company lifted its holdings in Dime Community Bancshares by 120.9% in the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after acquiring an additional 263,225 shares during the last quarter. Royce & Associates LP boosted its position in Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after purchasing an additional 162,004 shares during the period. Systematic Financial Management LP grew its stake in Dime Community Bancshares by 15.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock worth $31,416,000 after buying an additional 143,402 shares during the last quarter. First Eagle Investment Management LLC increased its position in Dime Community Bancshares by 33.9% in the second quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock worth $9,967,000 after buying an additional 123,800 shares during the period. Finally, American Century Companies Inc. lifted its stake in Dime Community Bancshares by 13.9% in the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after buying an additional 77,284 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.