Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.50 and last traded at $39.2640, with a volume of 223967 shares traded. The stock had previously closed at $38.95.
Analyst Ratings Changes
DCOM has been the topic of a number of analyst reports. DA Davidson raised their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. 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 report on Friday, April 24th. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.75.
Check Out Our Latest Stock Analysis on DCOM
Dime Community Bancshares Stock Performance
Dime Community Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 37.59%.
Insider Buying and Selling at Dime Community Bancshares
In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Dime Community Bancshares
A number of hedge funds have recently made changes to their positions in DCOM. Royal Bank of Canada boosted its holdings in shares of Dime Community Bancshares by 15.7% in the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock valued at $645,000 after purchasing an additional 3,135 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Dime Community Bancshares by 132.3% during the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock valued at $4,726,000 after acquiring an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Dime Community Bancshares by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock valued at $659,000 after acquiring an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Dime Community Bancshares by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock valued at $9,060,000 after acquiring an additional 18,195 shares in the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of Dime Community Bancshares by 5.4% during the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock valued at $2,289,000 after acquiring an additional 4,231 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.
About Dime Community Bancshares
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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