Dime Community Bancshares (NASDAQ:DCOM) Stock Price Up 4%

Dime Community Bancshares, Inc. (NASDAQ:DCOM) traded up 4% during mid-day trading on Tuesday . The stock traded as high as $24.85 and last traded at $24.80. 29,114 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 225,969 shares. The stock had previously closed at $23.85.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DCOM. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $23.00 to $26.00 in a report on Tuesday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $25.50 price target on shares of Dime Community Bancshares in a report on Friday, June 28th. Finally, StockNews.com upgraded Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

Dime Community Bancshares Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.87. The company has a market cap of $950.09 million, a P/E ratio of 14.29 and a beta of 1.01. The business has a fifty day simple moving average of $19.73 and a two-hundred day simple moving average of $20.02.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, April 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.01. Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. The business had revenue of $82.00 million for the quarter, compared to the consensus estimate of $80.15 million. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.66 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, July 17th. This represents a $1.00 annualized dividend and a yield of 4.10%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. First Eagle Investment Management LLC grew its stake in shares of Dime Community Bancshares by 1,218.3% during the 4th quarter. First Eagle Investment Management LLC now owns 300,654 shares of the savings and loans company’s stock valued at $8,097,000 after acquiring an additional 277,847 shares during the period. Stieven Capital Advisors L.P. purchased a new position in shares of Dime Community Bancshares in the first quarter worth $4,702,000. Hennessy Advisors Inc. bought a new position in shares of Dime Community Bancshares during the fourth quarter worth $3,016,000. Salzhauer Michael increased its holdings in Dime Community Bancshares by 446.0% in the 1st quarter. Salzhauer Michael now owns 129,915 shares of the savings and loans company’s stock valued at $2,502,000 after acquiring an additional 106,121 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its stake in Dime Community Bancshares by 48.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 163,148 shares of the savings and loans company’s stock worth $4,394,000 after purchasing an additional 53,041 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

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.