Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) – Equities research analysts at DA Davidson reduced their FY2023 earnings per share (EPS) estimates for Dime Community Bancshares in a research note issued to investors on Tuesday, January 31st. DA Davidson analyst M. Navas now anticipates that the savings and loans company will earn $3.80 per share for the year, down from their previous forecast of $4.05. The consensus estimate for Dime Community Bancshares' current full-year earnings is $3.73 per share.
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Several other analysts also recently commented on the stock. Stephens raised their price objective on shares of Dime Community Bancshares from $35.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Monday, November 14th. StockNews.com initiated coverage on Dime Community Bancshares in a report on Wednesday, October 12th. They set a "hold" rating for the company. Finally, Raymond James dropped their target price on Dime Community Bancshares from $38.00 to $34.00 and set an "outperform" rating for the company in a research report on Monday.
Dime Community Bancshares Stock Performance
Dime Community Bancshares stock opened at $30.89 on Thursday. The company has a market capitalization of $1.19 billion, a P/E ratio of 8.28 and a beta of 1.09. The business has a 50 day moving average of $32.56 and a 200-day moving average of $32.51. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 0.99. Dime Community Bancshares has a 1 year low of $28.36 and a 1 year high of $36.82.
Institutional Trading of Dime Community Bancshares
Hedge funds and other institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new stake in shares of Dime Community Bancshares during the 4th quarter worth approximately $156,000. Kestra Advisory Services LLC lifted its position in shares of Dime Community Bancshares by 47.8% during the fourth quarter. Kestra Advisory Services LLC now owns 46,436 shares of the savings and loans company's stock worth $1,478,000 after purchasing an additional 15,026 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Dime Community Bancshares by 6.0% during the fourth quarter. New York State Common Retirement Fund now owns 105,034 shares of the savings and loans company's stock worth $3,343,000 after purchasing an additional 5,968 shares during the last quarter. Capital Management Corp VA raised its stake in Dime Community Bancshares by 40.9% during the fourth quarter. Capital Management Corp VA now owns 294,166 shares of the savings and loans company's stock worth $9,363,000 after acquiring an additional 85,370 shares during the period. Finally, Strategic Advisors LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter valued at approximately $203,000. Institutional investors and hedge funds own 72.38% of the company's stock.
Insider Activity
In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 25,540 shares of the stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $35.03, for a total transaction of $894,666.20. Following the completion of the transaction, the director now owns 6,140 shares of the company's stock, valued at $215,084.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Christopher J. Porzelt sold 2,000 shares of the firm's stock in a transaction on Wednesday, November 30th. The stock was sold at an average price of $33.50, for a total transaction of $67,000.00. Following the completion of the transaction, the insider now directly owns 13,716 shares in the company, valued at $459,486. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Basswood Capital Management, L sold 25,540 shares of Dime Community Bancshares stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $35.03, for a total value of $894,666.20. Following the completion of the transaction, the director now owns 6,140 shares of the company's stock, valued at $215,084.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,564 shares of company stock valued at $4,945,945. Company insiders own 15.30% of the company's stock.
Dime Community Bancshares Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 24th. Investors of record on Tuesday, January 17th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.11%. The ex-dividend date was Friday, January 13th. Dime Community Bancshares's dividend payout ratio is currently 25.74%.
About Dime Community Bancshares
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The largest community bank headquartered in Brooklyn, New York, chartered on April 19, 1864. The bank specializes in Commercial Mortgage finance in the NY Metro area and services depositors in 24 full service branches throughout Brooklyn, Queens, Nassau, and the Bronx.
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