Dime Community Bancshares (NASDAQ:DCOM) Reaches New 12-Month High – Should You Buy?

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $41.76 and last traded at $41.6730, with a volume of 91313 shares trading hands. The stock had previously closed at $41.21.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DCOM shares. Keefe, Bruyette & Woods lifted their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. DA Davidson upped their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Dime Community Bancshares Stock Performance

The company has a market cap of $1.82 billion, a PE ratio of 17.47 and a beta of 0.99. The stock has a 50 day simple moving average of $39.59 and a two-hundred day simple moving average of $36.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is currently 36.10%.

Insider Activity

In related news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Basswood Capital Management, L sold 20,687 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $41.17, for a total transaction of $851,683.79. Following the transaction, the director owned 6,396 shares in the company, valued at approximately $263,323.32. This trade represents a 76.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 163,419 shares of company stock valued at $6,559,507 in the last quarter. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter worth $28,000. Larson Financial Group LLC lifted its position in shares of Dime Community Bancshares by 742.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares during the period. Tower Research Capital LLC TRC boosted 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 acquiring an additional 4,446 shares in the last quarter. iSAM Funds UK Ltd purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter worth approximately $169,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Dime Community Bancshares in the 1st quarter worth approximately $202,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.