Dime Community Bancshares (NASDAQ:DCOM) Given New $41.00 Price Target at Keefe, Bruyette & Woods

Dime Community Bancshares (NASDAQ:DCOM) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $42.00 to $41.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 32.26% from the company’s current price.

Several other research analysts have also issued reports on DCOM. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $39.00 in a research report on Monday, November 18th. Raymond James upped their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $36.00 to $38.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Dime Community Bancshares Price Performance

NASDAQ DCOM opened at $31.00 on Friday. The company has a market cap of $1.21 billion, a PE ratio of 20.67 and a beta of 1.05. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $37.60. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s 50 day moving average price is $33.16 and its 200-day moving average price is $28.87.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. Sell-side analysts forecast that Dime Community Bancshares will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 29,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was bought at an average price of $32.00 per share, with a total value of $928,000.00. Following the purchase, the director now owns 1,044,221 shares in the company, valued at approximately $33,415,072. The trade was a 2.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at $720,742.80. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.10% of the stock is currently owned by insiders.

Institutional Trading of Dime Community Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of Dime Community Bancshares by 0.6% during the 2nd 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 acquiring an additional 13,650 shares during the last quarter. Systematic Financial Management LP boosted its holdings in Dime Community Bancshares by 15.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after purchasing an additional 143,402 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Dime Community Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock valued at $24,773,000 after buying an additional 9,978 shares during the period. Royce & Associates LP increased its holdings in shares of Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after buying an additional 162,004 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Dime Community Bancshares by 120.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock valued at $13,851,000 after buying an additional 263,225 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

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.