Dime Community Bancshares (NASDAQ:DCOM) Sets New 1-Year High – What’s Next?

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $33.78 and last traded at $33.63, with a volume of 5923 shares trading hands. The stock had previously closed at $30.15.

Wall Street Analyst Weigh In

DCOM has been the topic of a number of recent research reports. StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Keefe, Bruyette & Woods upped their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. Finally, Raymond James upped their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Price Performance

The business’s fifty day moving average price is $28.16 and its 200 day moving average price is $23.36. The stock has a market cap of $1.35 billion, a P/E ratio of 22.97 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). The firm had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the previous year, the firm earned $0.56 EPS. Sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.5 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.90%. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Institutional Trading of Dime Community Bancshares

Several hedge funds have recently added to or reduced their stakes in DCOM. Victory Capital Management Inc. raised its stake in shares of Dime Community Bancshares by 15.8% during the 3rd quarter. Victory Capital Management Inc. now owns 53,276 shares of the savings and loans company’s stock valued at $1,534,000 after purchasing an additional 7,276 shares during the period. Nisa Investment Advisors LLC boosted its stake in Dime Community Bancshares by 31.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock worth $182,000 after buying an additional 1,500 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Dime Community Bancshares in the 3rd quarter worth $235,000. Creative Planning bought a new position in Dime Community Bancshares during the 3rd quarter worth approximately $243,000. Finally, GAMMA Investing LLC grew its holdings in Dime Community Bancshares by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after acquiring an additional 685 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

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.