Raymond James Boosts Dime Community Bancshares (NASDAQ:DCOM) Price Target to $36.00

Dime Community Bancshares (NASDAQ:DCOM) had its price target increased by research analysts at Raymond James from $35.00 to $36.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the savings and loans company’s stock. Raymond James’ price target would suggest a potential upside of 29.78% from the company’s previous close.

Several other research analysts also recently issued reports on DCOM. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Finally, Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price target for the company from $23.00 to $26.00 in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Price Performance

NASDAQ DCOM traded up $0.21 during trading hours on Wednesday, hitting $27.74. 19,844 shares of the company’s stock traded hands, compared to its average volume of 225,971. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $30.12. The company has a market capitalization of $1.08 billion, a PE ratio of 15.58 and a beta of 1.00. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average is $25.14 and its 200-day moving average is $21.42.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The firm had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 million. During the same period in the prior year, the business posted $0.68 EPS. Equities analysts forecast that Dime Community Bancshares will post 1.6 EPS for the current fiscal year.

Institutional Trading of Dime Community Bancshares

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Dime Community Bancshares by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock valued at $47,762,000 after purchasing an additional 19,999 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Dime Community Bancshares by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock valued at $44,328,000 after buying an additional 13,650 shares during the last quarter. Boston Partners raised its holdings in shares of Dime Community Bancshares by 4.8% in the first quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock valued at $13,334,000 after buying an additional 31,853 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Dime Community Bancshares by 13.9% in the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after buying an additional 77,284 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its holdings in Dime Community Bancshares by 33.9% during the 2nd quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock worth $9,967,000 after purchasing an additional 123,800 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.