Dime Community Bancshares (NASDAQ:DCOM) Stock Price Expected to Rise, DA Davidson Analyst Says

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) had its price target lifted by investment analysts at DA Davidson from $37.00 to $39.00 in a report issued on Thursday, MarketBeat reports. The firm currently has a “buy” rating on the savings and loans company’s stock. DA Davidson’s price target suggests a potential upside of 18.83% from the company’s previous close.

Several other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. Stephens set a $33.00 price target on Dime Community Bancshares and gave the company an “equal weight” rating in a research note on Tuesday, December 16th. Zacks Research raised shares of Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $38.33.

Read Our Latest Stock Analysis on DCOM

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $32.82 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.03. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 13.91 and a beta of 1.11. The firm has a 50-day moving average of $30.03 and a two-hundred day moving average of $29.33. Dime Community Bancshares has a 1 year low of $23.25 and a 1 year high of $34.85.

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) last issued its earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $123.85 million for the quarter, compared to analyst estimates of $118.14 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period last year, the company posted $0.42 earnings per share. On average, research analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 2,200 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $26.29, for a total transaction of $57,838.00. Following the completion of the sale, the director owned 33,985 shares of the company’s stock, valued at $893,465.65. This represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Basswood Capital Management, L bought 20,537 shares of the stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $26.26 per share, with a total value of $539,301.62. Following the completion of the purchase, the director owned 1,034,158 shares of the company’s stock, valued at $27,156,989.08. This represents a 2.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 4,695 shares of company stock valued at $125,809. 7.10% of the stock is currently owned by company insiders.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently made changes to their positions in DCOM. Squarepoint Ops LLC increased its holdings in shares of Dime Community Bancshares by 59.6% during the second quarter. Squarepoint Ops LLC now owns 86,946 shares of the savings and loans company’s stock valued at $2,342,000 after acquiring an additional 32,467 shares in the last quarter. Russell Investments Group Ltd. grew its position in Dime Community Bancshares by 31.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 160,927 shares of the savings and loans company’s stock worth $4,335,000 after purchasing an additional 38,395 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in Dime Community Bancshares during the 2nd quarter worth approximately $1,697,000. Brown Advisory Inc. increased its stake in Dime Community Bancshares by 13.1% during the 2nd quarter. Brown Advisory Inc. now owns 1,129,067 shares of the savings and loans company’s stock valued at $30,417,000 after purchasing an additional 131,087 shares in the last quarter. Finally, Fourthstone LLC raised its holdings in shares of Dime Community Bancshares by 47.3% in the second quarter. Fourthstone LLC now owns 116,100 shares of the savings and loans company’s stock worth $3,128,000 after buying an additional 37,300 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Key Dime Community Bancshares News

Here are the key news stories impacting Dime Community Bancshares this week:

About Dime Community Bancshares

(Get Free Report)

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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Analyst Recommendations for Dime Community Bancshares (NASDAQ:DCOM)

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