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

Dime Community Bancshares (NASDAQ:DCOM) had its price objective increased by Raymond James from $35.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a strong-buy rating on the savings and loans company’s stock.

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

Dime Community Bancshares Stock Up 0.8 %

Dime Community Bancshares stock opened at $28.16 on Wednesday. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $30.12. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 15.82 and a beta of 1.00. The company’s 50-day moving average price is $25.33 and its two-hundred day moving average price is $21.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter last year, the business earned $0.68 earnings per share. On average, analysts expect that Dime Community Bancshares will post 1.6 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.55%. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently bought and sold shares of DCOM. Vanguard Group Inc. raised its stake in Dime Community Bancshares by 0.8% during the 1st 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 lifted its stake in Dime Community Bancshares by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock worth $44,328,000 after acquiring an additional 13,650 shares in the last quarter. Boston Partners boosted its position in Dime Community Bancshares by 4.8% during the 1st quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after acquiring an additional 31,853 shares during the period. American Century Companies Inc. grew its stake in Dime Community Bancshares by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after acquiring an additional 77,284 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Dime Community Bancshares by 33.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock valued at $9,967,000 after purchasing an additional 123,800 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 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.