Dime Community Bancshares (NASDAQ:DCOM) Rating Increased to Strong-Buy at Raymond James

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a $35.00 target price on the savings and loans company’s stock, up from their prior target price of $29.00. Raymond James’ price target indicates a potential upside of 22.46% from the stock’s current price.

DCOM has been the topic of several other research reports. Keefe, Bruyette & Woods boosted 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 note on Thursday, July 25th. StockNews.com upgraded Dime Community Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Finally, Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $28.58 on Tuesday. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 16.06 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $24.26 and its 200-day moving average price is $20.76. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $29.67.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The business had revenue of $171.23 million for the quarter, compared to the consensus estimate of $82.19 million. During the same period last year, the company earned $0.68 EPS. Equities research analysts forecast that Dime Community Bancshares will post 1.59 EPS for the current year.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently bought and sold shares of the company. Foundry Partners LLC lifted its stake in shares of Dime Community Bancshares by 31.0% in the 1st quarter. Foundry Partners LLC now owns 205,409 shares of the savings and loans company’s stock valued at $3,956,000 after purchasing an additional 48,619 shares during the period. Boston Partners boosted its holdings in shares of Dime Community Bancshares by 4.8% during the 1st quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after buying an additional 31,853 shares in the last quarter. First Eagle Investment Management LLC grew its position in shares of Dime Community Bancshares by 21.3% during the 1st quarter. First Eagle Investment Management LLC now owns 364,754 shares of the savings and loans company’s stock worth $7,025,000 after buying an additional 64,100 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dime Community Bancshares by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,146,521 shares of the savings and loans company’s stock valued at $57,807,000 after acquiring an additional 43,679 shares in the last quarter. Finally, Stieven Capital Advisors L.P. lifted its position in shares of Dime Community Bancshares by 22.2% during the 2nd quarter. Stieven Capital Advisors L.P. now owns 298,345 shares of the savings and loans company’s stock valued at $6,086,000 after acquiring an additional 54,193 shares during the period. 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.