Dime Community Bancshares (NASDAQ:DCOM) Sets New 52-Week High – Time to Buy?

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price reached a new 52-week high on Thursday . The company traded as high as $41.62 and last traded at $41.2230, with a volume of 282808 shares traded. The stock had previously closed at $40.65.

Analyst Ratings Changes

Several research analysts have weighed in on DCOM shares. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, DA Davidson increased their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Stock Performance

The stock’s 50 day moving average price is $37.71 and its two-hundred day moving average price is $34.67. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.47 and a beta of 1.00.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is 37.59%.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,650 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director owned 35,607 shares in the company, valued at $1,320,663.63. This represents a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the transaction, the director directly owned 6,785 shares of the company’s stock, valued at $264,750.70. The trade was a 82.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,803 shares of company stock worth $3,101,749 in the last three months. Corporate insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new stake in shares of Dime Community Bancshares in the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its position in shares of Dime Community Bancshares by 742.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Dime Community Bancshares in the 3rd quarter valued at approximately $169,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Dime Community Bancshares during the first quarter valued at $202,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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.