Dime Community Bancshares (NASDAQ:DCOM) Raised to “Overweight” at Piper Sandler

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a $38.00 target price on the savings and loans company’s stock, up from their prior target price of $36.00. Piper Sandler’s price objective points to a potential upside of 23.34% from the company’s current price.

DCOM has been the subject of a number of other research reports. Raymond James boosted their price target on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $30.00 to $39.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

Dime Community Bancshares Trading Down 0.6 %

Shares of Dime Community Bancshares stock opened at $30.81 on Thursday. 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 has a 12-month low of $17.29 and a 12-month high of $37.60. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 20.54 and a beta of 1.05. The firm’s 50-day moving average price is $33.10 and its two-hundred day moving average price is $28.89.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (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, analysts forecast that Dime Community Bancshares will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Dime Community Bancshares

In related news, CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the transaction, the chief technology officer now directly owns 20,155 shares of the company’s stock, valued at $720,742.80. This trade represents a 9.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Basswood Capital Management, L purchased 29,000 shares of Dime Community Bancshares stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the transaction, the director now directly owns 1,044,221 shares in the company, valued at approximately $33,415,072. The trade was a 2.86 % increase in their position. The disclosure for this purchase can be found here. 9.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Dime Community Bancshares by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock worth $44,328,000 after buying an additional 13,650 shares during the period. Systematic Financial Management LP boosted its position in Dime Community Bancshares by 15.1% during the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after acquiring an additional 143,402 shares during the last quarter. Geode Capital Management LLC grew its holdings in Dime Community Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock worth $24,773,000 after acquiring an additional 9,978 shares during the period. Royce & Associates LP raised its position in shares of Dime Community Bancshares by 47.4% in 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Dime Community Bancshares by 120.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock valued at $13,851,000 after purchasing an additional 263,225 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.