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Dime Community Bancshares (NASDAQ:DCOM) Price Target Lowered to $34.00 at Raymond James

Defense World · Jan 31, 2023 03:52

Dime Community Bancshares (NASDAQ:DCOM – Get Rating) had its price objective reduced by Raymond James from $38.00 to $34.00 in a report issued on Monday morning, Benzinga reports. They currently have an outperform rating on the savings and loans company's stock.

Several other analysts have also issued reports on DCOM. Stephens boosted their price objective on shares of Dime Community Bancshares from $35.00 to $38.00 and gave the company an equal weight rating in a report on Monday, November 14th. Piper Sandler dropped their target price on Dime Community Bancshares to $37.00 in a research report on Wednesday, October 5th. Finally, StockNews.com assumed coverage on Dime Community Bancshares in a research report on Wednesday, October 12th. They issued a hold rating for the company.

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Dime Community Bancshares Stock Down 0.6 %

Shares of DCOM opened at $29.76 on Monday. The firm has a market cap of $1.15 billion, a P/E ratio of 8.35 and a beta of 1.11. Dime Community Bancshares has a 12-month low of $28.36 and a 12-month high of $36.82. The company's 50-day moving average price is $32.83 and its 200 day moving average price is $32.52. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26.

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 (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.03. The firm had revenue of $109.80 million for the quarter, compared to analyst estimates of $104.60 million. Dime Community Bancshares had a net margin of 31.96% and a return on equity of 14.89%. On average, sell-side analysts forecast that Dime Community Bancshares will post 4 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 24th. Shareholders of record on Tuesday, January 17th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Friday, January 13th. Dime Community Bancshares's dividend payout ratio is currently 26.89%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 4,710 shares of the business's stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $36.35, for a total transaction of $171,208.50. Following the completion of the transaction, the director now directly owns 1,396,670 shares of the company's stock, valued at $50,768,954.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Christopher J. Porzelt sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $459,486. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Basswood Capital Management, L sold 4,710 shares of the business's stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $36.35, for a total value of $171,208.50. Following the transaction, the director now directly owns 1,396,670 shares of the company's stock, valued at $50,768,954.50. The disclosure for this sale can be found here. Insiders sold a total of 169,147 shares of company stock valued at $5,756,685 in the last three months. 15.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in DCOM. Brown Advisory Inc. boosted its holdings in Dime Community Bancshares by 229.7% in the second quarter. Brown Advisory Inc. now owns 785,550 shares of the savings and loans company's stock valued at $23,292,000 after purchasing an additional 547,293 shares in the last quarter. Verition Fund Management LLC acquired a new position in Dime Community Bancshares in the third quarter valued at approximately $4,557,000. LSV Asset Management boosted its holdings in Dime Community Bancshares by 59.5% in the first quarter. LSV Asset Management now owns 363,540 shares of the savings and loans company's stock valued at $12,568,000 after purchasing an additional 135,614 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Dime Community Bancshares by 4.3% in the first quarter. Vanguard Group Inc. now owns 2,167,447 shares of the savings and loans company's stock valued at $74,929,000 after purchasing an additional 88,775 shares in the last quarter. Finally, Polaris Capital Management LLC boosted its holdings in Dime Community Bancshares by 14.4% in the second quarter. Polaris Capital Management LLC now owns 680,600 shares of the savings and loans company's stock valued at $68,884,000 after purchasing an additional 85,720 shares in the last quarter. 72.38% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Company Profile

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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.