Dime Community Bancshares (NASDAQ:DCOM) PT Raised to $36.00

Dime Community Bancshares (NASDAQ:DCOM) had its price objective boosted by research analysts at Raymond James from $35.00 to $36.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the savings and loans company’s stock. Raymond James’ price objective points to a potential upside of 28.80% from the company’s previous close.

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

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $27.95 on Wednesday. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $30.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.70 and a beta of 1.00. The business has a 50 day simple moving average of $25.27 and a 200-day simple moving average of $21.51.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Kimelman & Baird LLC acquired a new position in Dime Community Bancshares during the 2nd quarter worth $56,000. The Manufacturers Life Insurance Company boosted its position in Dime Community Bancshares by 1,546.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock worth $4,441,000 after acquiring an additional 204,493 shares during the period. Squarepoint Ops LLC boosted its position in Dime Community Bancshares by 23.3% during the 2nd quarter. Squarepoint Ops LLC now owns 48,350 shares of the savings and loans company’s stock worth $986,000 after acquiring an additional 9,144 shares during the period. Public Sector Pension Investment Board boosted its position in Dime Community Bancshares by 6.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,218 shares of the savings and loans company’s stock worth $1,575,000 after acquiring an additional 4,712 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Dime Community Bancshares by 5.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 102,179 shares of the savings and loans company’s stock worth $2,085,000 after acquiring an additional 4,988 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.