Dime Community Bancshares (NASDAQ:DCOM) Upgraded by Raymond James to “Strong-Buy”

Raymond James upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from an outperform rating to a strong-buy rating in a research note published on Tuesday morning, Marketbeat reports. Raymond James currently has $35.00 target price on the savings and loans company’s stock, up from their prior target price of $29.00.

A number of other brokerages also recently issued reports on DCOM. Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the company an outperform rating in a report on Thursday, July 25th. Piper Sandler cut Dime Community Bancshares from an overweight rating to a neutral rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, StockNews.com raised Dime Community Bancshares from a sell rating to a hold rating in a research note on Friday, September 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares has a consensus rating of Moderate Buy and an average price target of $29.25.

Dime Community Bancshares Trading Down 2.8 %

Shares of DCOM stock opened at $29.06 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $24.56 and a 200 day moving average of $20.90. The stock has a market capitalization of $1.13 billion, a PE ratio of 16.33 and a beta of 1.00. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $30.12.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $171.23 million during the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same period in the prior year, the business posted $0.68 EPS. As a group, sell-side analysts anticipate that Dime Community Bancshares will post 1.59 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in DCOM. Vanguard Group Inc. grew its stake in Dime Community Bancshares by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock worth $47,762,000 after purchasing an additional 19,999 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Dime Community Bancshares by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock valued at $44,328,000 after buying an additional 13,650 shares in the last quarter. Boston Partners increased its stake in shares of Dime Community Bancshares by 4.8% in the 1st quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after acquiring an additional 31,853 shares in the last quarter. American Century Companies Inc. lifted its position in Dime Community Bancshares by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after acquiring an additional 77,284 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in Dime Community Bancshares by 33.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock valued at $9,967,000 after acquiring an additional 123,800 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.