Keefe, Bruyette & Woods Cuts Dime Community Bancshares (NASDAQ:DCOM) Price Target to $41.00

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

A number of other analysts have also weighed in on DCOM. Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their target price for the company from $36.00 to $38.00 in a research note on Thursday. 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. Finally, Raymond James boosted their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $30.81 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.21 billion, a PE ratio of 20.54 and a beta of 1.05. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $37.60. The company’s 50-day moving average price is $33.05 and its two-hundred day moving average price is $29.03.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS 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%. On average, equities analysts anticipate that Dime Community Bancshares will post 1.49 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were given a dividend of $0.25 per share. 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 payout ratio is presently 66.67%.

Insider Activity

In related news, CTO Michael Fegan sold 2,000 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the completion of the sale, the chief technology officer now owns 20,155 shares in the company, valued at approximately $720,742.80. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Basswood Capital Management, L bought 29,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the purchase, the director now directly 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 disclosure for this purchase can be found here. Insiders own 9.10% of the company’s stock.

Institutional Trading of Dime Community Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP boosted its stake in Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after acquiring an additional 162,004 shares during the last quarter. Barclays PLC raised its holdings in Dime Community Bancshares by 91.0% in the third quarter. Barclays PLC now owns 75,732 shares of the savings and loans company’s stock worth $2,181,000 after purchasing an additional 36,076 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after purchasing an additional 263,225 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Dime Community Bancshares by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 211,604 shares of the savings and loans company’s stock valued at $4,317,000 after buying an additional 24,000 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Dime Community Bancshares by 17.4% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after buying an additional 512 shares in the last quarter. 75.27% of the stock is 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.