Dime Community Bancshares, Inc. (NASDAQ:DCOM) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.98 and last traded at $20.85, with a volume of 261 shares traded. The stock had previously closed at $20.73.
Several research firms recently commented on DCOM. Zacks Investment Research raised Dime Community Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a research report on Monday, July 29th. BidaskClub downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the stock. Dime Community Bancshares currently has an average rating of “Hold” and an average target price of $20.00.
The stock has a 50-day simple moving average of $19.96 and a two-hundred day simple moving average of $19.35. The firm has a market capitalization of $719.56 million, a P/E ratio of 15.42 and a beta of 0.89. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.
Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Thursday, July 25th. The savings and loans company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. The firm had revenue of $39.32 million during the quarter, compared to analyst estimates of $38.30 million. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 20.35%.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, August 7th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Tuesday, August 6th. Dime Community Bancshares’s payout ratio is 41.48%.
Several institutional investors have recently made changes to their positions in DCOM. BlackRock Inc. boosted its stake in Dime Community Bancshares by 1.8% in the second quarter. BlackRock Inc. now owns 4,885,362 shares of the savings and loans company’s stock valued at $92,773,000 after acquiring an additional 85,990 shares in the last quarter. Northern Trust Corp raised its stake in Dime Community Bancshares by 0.8% in the 2nd quarter. Northern Trust Corp now owns 1,316,803 shares of the savings and loans company’s stock valued at $25,006,000 after purchasing an additional 10,591 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Dime Community Bancshares by 1.0% during the 2nd quarter. Invesco Ltd. now owns 927,703 shares of the savings and loans company’s stock worth $17,616,000 after purchasing an additional 9,018 shares during the period. Renaissance Technologies LLC grew its holdings in Dime Community Bancshares by 5.6% in the second quarter. Renaissance Technologies LLC now owns 635,800 shares of the savings and loans company’s stock valued at $12,074,000 after purchasing an additional 33,500 shares during the period. Finally, Banc Funds Co. LLC grew its position in Dime Community Bancshares by 61.4% during the second quarter. Banc Funds Co. LLC now owns 345,000 shares of the savings and loans company’s stock valued at $6,552,000 after acquiring an additional 131,200 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.
About Dime Community Bancshares (NASDAQ:DCOM)
Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.
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