Dime Community Bancshares (NASDAQ:DCOM) Price Target Raised to $43.00

Dime Community Bancshares (NASDAQ:DCOM) had its price objective lifted by stock analysts at Keefe, Bruyette & Woods from $40.00 to $43.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 19.48% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Stephens raised their price objective on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. DA Davidson raised their price objective on shares of Dime Community Bancshares from $37.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, January 22nd. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.75.

Dime Community Bancshares Trading Down 3.6%

DCOM traded down $1.35 during mid-day trading on Friday, hitting $35.99. The stock had a trading volume of 204,321 shares, compared to its average volume of 293,560. The stock’s fifty day simple moving average is $33.97 and its 200-day simple moving average is $31.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.21 and a beta of 1.05. Dime Community Bancshares has a 1-year low of $24.57 and a 1-year high of $37.75.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Wednesday, January 21st. The savings and loans company reported $0.79 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 business had revenue of $123.85 million for the quarter, compared to analyst estimates of $118.14 million. During the same period last year, the business posted $0.42 earnings per share. As a group, research analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, CEO Stuart H. Lubow sold 19,550 shares of Dime Community Bancshares stock in a transaction on Friday, February 13th. The shares were sold at an average price of $35.07, for a total value of $685,618.50. Following the sale, the chief executive officer directly owned 202,648 shares in the company, valued at approximately $7,106,865.36. The trade was a 8.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Basswood Capital Management, L sold 7,500 shares of Dime Community Bancshares stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $34.83, for a total transaction of $261,225.00. Following the completion of the sale, the director owned 1,006,319 shares in the company, valued at $35,050,090.77. The trade was a 0.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,865 shares of company stock worth $1,829,983 over the last quarter. Company insiders own 7.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Dime Community Bancshares in the 4th quarter valued at about $28,000. Larson Financial Group LLC grew its position in shares of Dime Community Bancshares by 742.9% in 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. iSAM Funds UK Ltd bought a new position in shares of Dime Community Bancshares in the 3rd quarter valued at about $169,000. Tower Research Capital LLC TRC grew its position in shares of Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 4,446 shares during the period. Finally, Amundi bought a new position in shares of Dime Community Bancshares in the 3rd quarter valued at about $202,000. Institutional investors 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.