Dime Community Bancshares (NASDAQ:DCOM) Price Target Raised to $28.00

Dime Community Bancshares (NASDAQ:DCOM) had its price target upped by research analysts at Keefe, Bruyette & Woods from $25.50 to $28.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 16.91% from the stock’s previous close.

A number of other brokerages have also weighed in on DCOM. StockNews.com upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $26.00 in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.25.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $23.95 on Thursday. The firm has a market capitalization of $933.33 million, a price-to-earnings ratio of 13.46 and a beta of 1.01. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $27.91. The stock has a fifty day moving average of $19.92 and a 200 day moving average of $20.04. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $171.23 million for the quarter, compared to analysts’ expectations of $82.19 million. Dime Community Bancshares had a return on equity of 6.62% and a net margin of 9.98%. During the same period last year, the firm earned $0.68 earnings per share. On average, research analysts expect that Dime Community Bancshares will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors have recently bought and sold shares of DCOM. AJOVista LLC acquired a new stake in shares of Dime Community Bancshares during the fourth quarter worth $82,000. GAMMA Investing LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter valued at about $92,000. Nisa Investment Advisors LLC boosted its position in Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after acquiring an additional 4,000 shares during the last quarter. EMC Capital Management boosted its position in Dime Community Bancshares by 42.2% during the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Dime Community Bancshares during the first quarter worth about $243,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.