Dime Community Bancshares (NASDAQ:DCOM) Sets New 1-Year High – What’s Next?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $38.00 and last traded at $37.76, with a volume of 31816 shares. The stock had previously closed at $36.90.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. DA Davidson lifted their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods lifted their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Dime Community Bancshares Stock Up 1.6%

The firm has a market capitalization of $1.65 billion, a P/E ratio of 15.89 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a fifty day moving average of $35.25 and a 200 day moving average of $32.61.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio is 37.59%.

Insider Transactions at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the completion of the sale, the director directly owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 7.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Amalgamated Bank increased its holdings in Dime Community Bancshares by 3.6% in the 3rd quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock worth $347,000 after acquiring an additional 406 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in Dime Community Bancshares by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock valued at $878,000 after purchasing an additional 449 shares during the last quarter. Hilton Head Capital Partners LLC boosted its position in Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock worth $49,000 after purchasing an additional 512 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Dime Community Bancshares by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after purchasing an additional 683 shares in the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in shares of Dime Community Bancshares by 3.3% in the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock valued at $699,000 after purchasing an additional 819 shares during the period. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.