Dime Community Bancshares (NASDAQ:DCOM) Downgraded by Piper Sandler

Piper Sandler lowered shares of Dime Community Bancshares (NASDAQ:DCOM) from an overweight rating to a neutral rating in a research note issued to investors on Tuesday, Marketbeat reports. They currently have $26.00 price objective on the savings and loans company’s stock, up from their prior price objective of $23.00.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of Dime Community Bancshares from a sell rating to a hold rating in a report on Monday, May 13th. Keefe, Bruyette & Woods reiterated an outperform rating and issued a $25.50 price objective on shares of Dime Community Bancshares in a report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Dime Community Bancshares presently has a consensus rating of Moderate Buy and an average target price of $27.25.

Dime Community Bancshares Price Performance

Shares of DCOM opened at $25.42 on Tuesday. The company has a market cap of $990.62 million, a price-to-earnings ratio of 14.28 and a beta of 1.01. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $27.91. The company’s fifty day simple moving average is $20.13 and its 200 day simple moving average is $20.07. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The firm had revenue of $171.23 million for the quarter, compared to the consensus estimate of $82.19 million. During the same period in the previous year, the company earned $0.68 earnings per share. On average, research analysts forecast that Dime Community Bancshares will post 1.64 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 17th were given a $0.25 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.93%. Dime Community Bancshares’s payout ratio is presently 56.18%.

Institutional Investors Weigh In On Dime Community Bancshares

Institutional investors have recently modified their holdings of the business. AJOVista LLC bought a new stake in shares of Dime Community Bancshares in the fourth quarter valued at about $82,000. GAMMA Investing LLC bought a new stake in Dime Community Bancshares during the fourth quarter worth about $92,000. Nisa Investment Advisors LLC lifted 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 purchasing an additional 4,000 shares during the period. Arizona State Retirement System bought a new stake in Dime Community Bancshares during the fourth quarter worth about $263,000. Finally, EMC Capital Management lifted 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 purchasing an additional 2,924 shares during the period. 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.