Dime Community Bancshares (NASDAQ:DCOM – Get Rating) had its price objective lowered by stock analysts at Raymond James from $38.00 to $34.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "outperform" rating on the savings and loans company's stock. Raymond James' price objective would indicate a potential upside of 11.99% from the stock's previous close.
DCOM has been the subject of a number of other reports. StockNews.com began coverage on Dime Community Bancshares in a report on Wednesday, October 12th. They issued a "hold" rating for the company. Piper Sandler reduced their price objective on shares of Dime Community Bancshares to $37.00 in a research note on Wednesday, October 5th. Finally, Stephens increased 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.
Get Dime Community Bancshares alerts:Dime Community Bancshares Price Performance
Shares of NASDAQ DCOM traded up $0.41 during midday trading on Monday, reaching $30.36. 54,625 shares of the company were exchanged, compared to its average volume of 90,286. Dime Community Bancshares has a one year low of $28.36 and a one year high of $36.82. The stock has a market cap of $1.17 billion, a P/E ratio of 8.47 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The stock's 50-day moving average price is $32.83 and its 200-day moving average price is $32.52.
Dime Community Bancshares (NASDAQ:DCOM – Get Rating) last issued its quarterly earnings data on Friday, October 28th. The savings and loans company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.03. Dime Community Bancshares had a return on equity of 14.89% and a net margin of 31.96%. The business had revenue of $109.80 million for the quarter, compared to analyst estimates of $104.60 million. On average, sell-side analysts anticipate that Dime Community Bancshares will post 4 earnings per share for the current fiscal year.Insider Activity at Dime Community Bancshares
In related news, insider Christopher J. Porzelt sold 2,000 shares of the firm's stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $33.50, for a total transaction of $67,000.00. Following the transaction, the insider now directly owns 13,716 shares of the company's stock, valued at $459,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 23,596 shares of the company's stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $33.47, for a total value of $789,758.12. Following the completion of the sale, the director now owns 6,251 shares of the company's stock, valued at $209,220.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher J. Porzelt sold 2,000 shares of the company's stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $33.50, for a total transaction of $67,000.00. Following the transaction, the insider now directly owns 13,716 shares of the company's stock, valued at $459,486. The disclosure for this sale can be found here. In the last 90 days, insiders sold 169,147 shares of company stock valued at $5,756,685. 15.30% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. raised its stake in Dime Community Bancshares by 1.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 20,845 shares of the savings and loans company's stock valued at $618,000 after buying an additional 332 shares during the last quarter. FMR LLC boosted its stake in shares of Dime Community Bancshares by 10.1% during the second quarter. FMR LLC now owns 3,879 shares of the savings and loans company's stock valued at $115,000 after purchasing an additional 357 shares during the period. Arizona State Retirement System increased its holdings in Dime Community Bancshares by 5.0% during the 2nd quarter. Arizona State Retirement System now owns 9,186 shares of the savings and loans company's stock worth $272,000 after purchasing an additional 438 shares during the period. Tudor Investment Corp Et Al raised its holdings in shares of Dime Community Bancshares by 0.8% in the 3rd quarter. Tudor Investment Corp Et Al now owns 66,794 shares of the savings and loans company's stock valued at $1,956,000 after purchasing an additional 519 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Dime Community Bancshares by 12.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 6,572 shares of the savings and loans company's stock worth $227,000 after purchasing an additional 707 shares in the last quarter. Institutional investors own 72.38% of the company's stock.
Dime Community Bancshares Company Profile
(Get Rating)
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.
Further Reading
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