Dime Community Bancshares (NASDAQ:DCOM) Price Target Cut to $41.00 by Analysts at Keefe, Bruyette & Woods

Dime Community Bancshares (NASDAQ:DCOM) had its price target reduced by Keefe, Bruyette & Woods from $42.00 to $41.00 in a research note published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the savings and loans company’s stock.

Several other brokerages have also recently commented on DCOM. Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $36.00 to $38.00 in a report on Thursday. 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 research report on Wednesday, October 2nd. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $39.00 in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $36.40.

Dime Community Bancshares Trading Down 0.6 %

Shares of Dime Community Bancshares stock opened at $30.81 on Friday. Dime Community Bancshares has a 12-month low of $17.29 and a 12-month high of $37.60. The stock has a market capitalization of $1.21 billion, a P/E ratio of 20.54 and a beta of 1.05. The company has a 50-day simple moving average of $33.10 and a 200 day simple moving average of $28.89. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. Research analysts expect that Dime Community Bancshares will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.25%. Dime Community Bancshares’s dividend payout ratio is 66.67%.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L bought 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the purchase, the director now owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Michael Fegan sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at approximately $720,742.80. This trade represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kimelman & Baird LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at $56,000. KBC Group NV raised its position in shares of Dime Community Bancshares by 50.8% in the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after purchasing an additional 909 shares during the period. GAMMA Investing LLC lifted its stake in shares of Dime Community Bancshares by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after buying an additional 685 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Dime Community Bancshares during the 4th quarter worth about $92,000. Finally, Quest Partners LLC grew its stake in Dime Community Bancshares by 9.4% in the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock valued at $155,000 after buying an additional 465 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

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.