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

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

A number of research analysts have issued reports on DCOM shares. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. DA Davidson boosted their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th.

Insiders Place Their Bets

In other news, Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was 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 in the company, valued at $264,750.70. This trade represents a 82.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction 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 transaction, the director directly owned 35,607 shares of the company’s stock, valued at $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. Over the last quarter, insiders have sold 78,803 shares of company stock worth $3,101,749. 7.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds have recently added to or reduced their stakes in DCOM. Hilton Head Capital Partners LLC acquired a new position in Dime Community Bancshares during the fourth quarter worth about $28,000. Larson Financial Group LLC grew its position in shares of Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after purchasing an additional 884 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Dime Community Bancshares in the third quarter valued at approximately $169,000. Tower Research Capital LLC TRC increased its stake in shares of Dime Community Bancshares by 326.4% during 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 purchasing an additional 4,446 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in shares of Dime Community Bancshares during the 1st quarter worth approximately $202,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Down 1.9%

Shares of NASDAQ DCOM opened at $39.40 on Thursday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.70 and a beta of 0.99. Dime Community Bancshares has a 52 week low of $25.63 and a 52 week high of $41.62. The firm has a 50-day moving average price of $38.79 and a 200 day moving average price of $35.59. The company has a quick ratio of 1.02, a current 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. Investors of record on Friday, July 17th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.5%. Dime Community Bancshares’s payout ratio is currently 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.