Stephens Upgrades Dime Community Bancshares (NASDAQ:DCOM) to Overweight

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by Stephens from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm presently has a $39.00 target price on the savings and loans company’s stock, up from their previous target price of $30.00. Stephens’ price objective suggests a potential upside of 12.07% from the stock’s previous close.

Other analysts have also recently issued reports about the company. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Keefe, Bruyette & Woods raised their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Raymond James raised their target price on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.40.

Dime Community Bancshares Trading Down 1.4 %

NASDAQ DCOM opened at $34.80 on Monday. The stock’s 50-day simple moving average is $29.68 and its two-hundred day simple moving average is $24.31. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $36.05. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 23.20 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The company had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period last year, the business posted $0.56 earnings per share. Research analysts forecast that Dime Community Bancshares will post 1.48 EPS for the current fiscal year.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the acquisition, the director now owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Several large investors have recently made changes to their positions in the business. Kimelman & Baird LLC purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $56,000. GAMMA Investing LLC raised its holdings in Dime Community Bancshares by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after acquiring an additional 685 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $101,000. Finally, EMC Capital Management raised its holdings in Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Company Profile

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.