Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives Consensus Rating of “Moderate Buy” from Brokerages

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $39.75.

A number of research analysts recently weighed in on the stock. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, DA Davidson lifted their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the transaction, the director owned 6,785 shares of the company’s stock, valued at $264,750.70. This trade represents a 82.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the transaction, the director directly owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. This trade represents a 4.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 78,803 shares of company stock valued at $3,101,749. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DCOM. Royal Bank of Canada boosted its holdings in shares of Dime Community Bancshares by 15.7% during the 1st 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 period. AQR Capital Management LLC boosted its holdings 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 worth $4,726,000 after buying an additional 96,523 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 buying an additional 3,443 shares during the period. Goldman Sachs Group Inc. boosted its holdings 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 buying an additional 18,195 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Dime Community Bancshares by 5.4% during the 1st 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 during the period. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Stock Up 1.4%

Dime Community Bancshares stock opened at $40.53 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of 17.17 and a beta of 1.00. Dime Community Bancshares has a 1-year low of $25.63 and a 1-year high of $40.99. The company has a fifty day simple moving average of $37.47 and a 200 day simple moving average of $34.42. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 37.59%.

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.