Dime Community Bancshares, Inc. (NASDAQ:DCOM) Receives $39.75 Consensus Target Price from Brokerages

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOMGet Free Report) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.75.

Several research firms have recently weighed in on DCOM. DA Davidson increased their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler started coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price on the stock. Finally, Keefe, Bruyette & Woods raised their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th.

View Our Latest Analysis on DCOM

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the sale, the director directly owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Basswood Capital Management, L sold 32,751 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the completion of the transaction, the director owned 6,785 shares in the company, 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 sold a total of 78,803 shares of company stock worth $3,101,749 in the last quarter. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in Dime Community Bancshares by 15.7% during the first 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 period. AQR Capital Management LLC lifted its position 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 buying an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake 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 during the period. Goldman Sachs Group Inc. grew its stake 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 during the period. Finally, Empowered Funds LLC increased its holdings in Dime Community Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock worth $2,289,000 after acquiring an additional 4,231 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $40.32 on Friday. The firm’s 50-day moving average price is $37.79 and its 200-day moving average price is $34.73. Dime Community Bancshares has a 52-week low of $25.63 and a 52-week high of $41.62. The company has a market cap of $1.78 billion, a PE ratio of 17.08 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 17th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. Dime Community Bancshares’s dividend payout ratio is presently 37.59%.

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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