Dime Community Bancshares (NASDAQ:DCOM) Sets New 52-Week High – Time to Buy?

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $41.62 and last traded at $41.2230, with a volume of 282808 shares. The stock had previously closed at $40.65.

Analyst Ratings Changes

DCOM has been the subject of a number of analyst reports. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. DA Davidson lifted their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Piper Sandler initiated coverage on Dime Community Bancshares in a research note on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Stock Performance

The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.47 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average price is $37.71 and its 200 day moving average price is $34.67.

Dime Community Bancshares Announces Dividend

The business also recently declared 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 of this dividend is Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is 37.59%.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 of the company’s stock, valued at $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock in a transaction on 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 in the company, valued at approximately $264,750.70. This trade represents a 82.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 78,803 shares of company stock worth $3,101,749. 7.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in DCOM. Sovran Advisors LLC purchased a new stake in Dime Community Bancshares during the fourth quarter valued at about $1,065,000. Penn Capital Management Company LLC raised its holdings in shares of Dime Community Bancshares by 20.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after purchasing an additional 98,736 shares during the period. Gator Capital Management LLC raised its holdings in shares of Dime Community Bancshares by 16.9% in the 3rd quarter. Gator Capital Management LLC now owns 109,230 shares of the savings and loans company’s stock worth $3,258,000 after purchasing an additional 15,792 shares during the period. UBS Group AG lifted its stake in shares of Dime Community Bancshares by 17.6% in the 4th quarter. UBS Group AG now owns 213,325 shares of the savings and loans company’s stock valued at $6,419,000 after purchasing an additional 31,968 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Dime Community Bancshares by 19.8% during 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 purchasing an additional 99,011 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.