Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives $38.00 Average Price Target from Brokerages

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $38.00.

Several analysts recently weighed in on the company. Zacks Research raised Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Stephens lifted their target price on Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Piper Sandler began coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 price target for the company. DA Davidson upped their price target on Dime Community Bancshares from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th.

Insider Transactions at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 7,500 shares of the stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $34.83, for a total transaction of $261,225.00. Following the sale, the director owned 1,006,319 shares in the company, valued at $35,050,090.77. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stuart H. Lubow sold 19,550 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $35.07, for a total value of $685,618.50. Following the sale, the chief executive officer owned 202,648 shares in the company, valued at $7,106,865.36. The trade was a 8.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 52,865 shares of company stock valued at $1,829,983. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Several large investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its stake in Dime Community Bancshares by 40,939.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 37,756 shares of the savings and loans company’s stock valued at $1,136,000 after buying an additional 37,664 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter valued at approximately $218,000. Empowered Funds LLC increased its stake in shares of Dime Community Bancshares by 3.1% in the fourth quarter. Empowered Funds LLC now owns 177,354 shares of the savings and loans company’s stock valued at $5,337,000 after purchasing an additional 5,399 shares during the period. Wellington Management Group LLP raised its holdings in shares of Dime Community Bancshares by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock valued at $128,281,000 after buying an additional 857,001 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Dime Community Bancshares during the fourth quarter valued at approximately $898,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $33.41 on Friday. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 14.16 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $33.31 and its two-hundred day moving average is $30.73. Dime Community Bancshares has a 52-week low of $23.25 and a 52-week high of $36.86.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Wednesday, January 21st. The savings and loans company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.09. The company had revenue of $123.85 million during 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 business earned $0.42 EPS. Analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Company Profile

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.