Dime Community Bancshares (NASDAQ:DCOM) Reaches New 12-Month High at $28.25

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $28.25 and last traded at $27.98, with a volume of 142167 shares trading hands. The stock had previously closed at $26.01.

Wall Street Analyst Weigh In

DCOM has been the subject of a number of analyst reports. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Raymond James upgraded Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $29.00 to $35.00 in a report on Tuesday. StockNews.com raised Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Dime Community Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

Dime Community Bancshares Trading Down 0.6 %

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 stock’s 50 day moving average is $24.26 and its 200-day moving average is $20.76. The company has a market capitalization of $1.11 billion, a P/E ratio of 16.06 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last announced 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 firm had revenue of $171.23 million during the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. During the same quarter in the prior year, the company earned $0.68 EPS. As a group, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 1.59 earnings per share for the current year.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new stake in shares of Dime Community Bancshares in the 2nd quarter worth about $56,000. Nisa Investment Advisors LLC grew its holdings in Dime Community Bancshares by 496.9% in 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. Quest Partners LLC bought a new position in shares of Dime Community Bancshares during the second quarter valued at approximately $101,000. EMC Capital Management increased its stake in shares of 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 valued at $190,000 after purchasing an additional 2,924 shares in the last quarter. Finally, Denali Advisors LLC purchased a new position in shares of Dime Community Bancshares during the second quarter valued at approximately $235,000. Hedge funds and other 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.