Dime Community Bancshares (NASDAQ:DCOM) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Dime Community Bancshares, Inc. (NASDAQ:DCOM) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $30.06 and traded as high as $35.53. Dime Community Bancshares shares last traded at $35.24, with a volume of 204,470 shares traded.

Analyst Ratings Changes

A number of research firms have commented on DCOM. Zacks Research raised Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. DA Davidson lifted their price target on Dime Community Bancshares from $37.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Dime Community Bancshares from $34.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of Dime Community Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Hold” and a consensus price target of $38.33.

Dime Community Bancshares Price Performance

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.55 billion, a P/E ratio of 14.93 and a beta of 1.11. The company has a fifty day simple moving average of $32.21 and a two-hundred day simple moving average of $30.06.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The company had revenue of $123.85 million during the quarter, compared to analysts’ expectations of $118.14 million. During the same quarter in the previous year, the company earned $0.42 EPS. Sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, January 16th were given a dividend of $0.25 per share. The ex-dividend date was Friday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Dime Community Bancshares’s payout ratio is presently 42.37%.

Insider Activity

In related news, Director Basswood Capital Management, L sold 20,339 shares of Dime Community Bancshares stock in a transaction on Friday, January 30th. The stock was sold at an average price of $33.96, for a total transaction of $690,712.44. Following the completion of the sale, the director directly owned 1,013,819 shares of the company’s stock, valued at $34,429,293.24. The trade was a 1.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 28,334 shares of company stock valued at $966,688. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System increased its stake in shares of Dime Community Bancshares by 2.2% in the 3rd quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company’s stock valued at $561,000 after acquiring an additional 400 shares during the last quarter. Amalgamated Bank boosted its stake in Dime Community Bancshares by 3.6% during 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 grew 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 period. GAMMA Investing LLC increased its stake in Dime Community Bancshares by 15.1% in the third quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company’s stock valued at $133,000 after purchasing an additional 584 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Dime Community Bancshares by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,125 shares of the savings and loans company’s stock worth $273,000 after purchasing an additional 730 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.