Raymond James Increases Dime Community Bancshares (NASDAQ:DCOM) Price Target to $36.00

Dime Community Bancshares (NASDAQ:DCOM) had its target price increased by equities researchers at Raymond James from $35.00 to $36.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “strong-buy” rating on the savings and loans company’s stock. Raymond James’ price target would indicate a potential upside of 29.78% from the company’s previous close.

DCOM has been the subject of several other 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 boosted their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Piper Sandler lowered 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.50.

Dime Community Bancshares Trading Up 0.8 %

Shares of NASDAQ:DCOM traded up $0.21 during midday trading on Wednesday, reaching $27.74. The company’s stock had a trading volume of 19,844 shares, compared to its average volume of 225,971. The firm has a 50 day moving average price of $25.14 and a two-hundred day moving average price of $21.42. Dime Community Bancshares has a fifty-two week low of $17.29 and a fifty-two week high of $30.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 15.58 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last issued 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. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The company had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. During the same period last year, the business posted $0.68 earnings per share. As a group, analysts forecast that Dime Community Bancshares will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Kimelman & Baird LLC bought a new stake in Dime Community Bancshares in the second quarter worth about $56,000. The Manufacturers Life Insurance Company increased its holdings in Dime Community Bancshares by 1,546.1% during the second quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock valued at $4,441,000 after buying an additional 204,493 shares during the period. Squarepoint Ops LLC grew its holdings in Dime Community Bancshares by 23.3% in the second quarter. Squarepoint Ops LLC now owns 48,350 shares of the savings and loans company’s stock worth $986,000 after purchasing an additional 9,144 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in Dime Community Bancshares by 6.5% in the second quarter. Public Sector Pension Investment Board now owns 77,218 shares of the savings and loans company’s stock worth $1,575,000 after purchasing an additional 4,712 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Dime Community Bancshares by 5.1% in the second quarter. Thrivent Financial for Lutherans now owns 102,179 shares of the savings and loans company’s stock worth $2,085,000 after purchasing an additional 4,988 shares during the last quarter. Hedge funds and other 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.