Brokerages Set Dime Community Bancshares, Inc. (NASDAQ:DCOM) Target Price at $39.75

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) have earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $39.75.

DCOM has been the subject of several recent analyst reports. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, DA Davidson lifted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 32,751 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were 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 of the company’s stock, valued at $264,750.70. This represents a 82.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond A. Nielsen sold 1,650 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.09, for a total transaction of $61,198.50. Following the transaction, the director owned 35,607 shares in the company, valued at approximately $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 78,803 shares of company stock worth $3,101,749. 7.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of DCOM. Wellington Management Group LLP boosted its holdings in shares of Dime Community Bancshares by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock valued at $128,281,000 after purchasing an additional 857,001 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Dime Community Bancshares during the 4th quarter worth $13,321,000. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Dime Community Bancshares by 97.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock worth $12,900,000 after buying an additional 212,934 shares during the last quarter. Bank of America Corp DE raised its position in shares of Dime Community Bancshares by 271.4% in the 3rd quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock worth $7,935,000 after buying an additional 194,383 shares during the period. Finally, Verition Fund Management LLC raised its position in shares of Dime Community Bancshares by 19.8% in the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock worth $18,027,000 after buying an additional 99,011 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $40.32 on Friday. The company has a market cap of $1.78 billion, a PE ratio of 17.08 and a beta of 0.99. Dime Community Bancshares has a 12 month low of $25.63 and a 12 month high of $41.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50-day simple moving average of $37.88 and a 200-day simple moving average of $34.77.

Dime Community Bancshares Dividend Announcement

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

Dime Community Bancshares Company Profile

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.