Dime Community Bancshares, Inc. (DCOM) Receives $20.13 Consensus Price Target from Brokerages

Dime Community Bancshares, Inc. (NASDAQ:DCOM) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $20.13.

DCOM has been the subject of several recent analyst reports. BidaskClub raised shares of Dime Community Bancshares from a “hold” rating to a “buy” rating in a report on Tuesday, January 22nd. Zacks Investment Research upgraded shares of Dime Community Bancshares from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research note on Thursday, January 31st. Finally, Sandler O’Neill cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research note on Wednesday, February 13th.

Dime Community Bancshares stock traded up $0.13 during mid-day trading on Thursday, hitting $18.46. The stock had a trading volume of 209,800 shares, compared to its average volume of 151,934. The company has a market capitalization of $660.98 million, a P/E ratio of 13.68 and a beta of 0.81. The company has a debt-to-equity ratio of 2.06, a quick ratio of 1.28 and a current ratio of 1.28. Dime Community Bancshares has a one year low of $15.48 and a one year high of $20.85.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Thursday, April 25th. The savings and loans company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $37.68 million during the quarter, compared to the consensus estimate of $38.70 million. Dime Community Bancshares had a net margin of 20.62% and a return on equity of 7.87%. Analysts forecast that Dime Community Bancshares will post 1.32 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 8th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.03%. The ex-dividend date was Tuesday, May 7th. Dime Community Bancshares’s payout ratio is currently 41.48%.

A number of hedge funds have recently made changes to their positions in DCOM. Bank of New York Mellon Corp lifted its stake in Dime Community Bancshares by 4.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 464,394 shares of the savings and loans company’s stock worth $8,289,000 after purchasing an additional 17,819 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Dime Community Bancshares by 51.5% during the 3rd quarter. MetLife Investment Advisors LLC now owns 23,485 shares of the savings and loans company’s stock valued at $419,000 after buying an additional 7,984 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Dime Community Bancshares by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 66,004 shares of the savings and loans company’s stock valued at $1,178,000 after buying an additional 4,666 shares in the last quarter. Legal & General Group Plc raised its position in shares of Dime Community Bancshares by 10.3% during the 3rd quarter. Legal & General Group Plc now owns 78,060 shares of the savings and loans company’s stock valued at $1,382,000 after buying an additional 7,269 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Dime Community Bancshares by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,316,518 shares of the savings and loans company’s stock valued at $59,200,000 after buying an additional 78,348 shares in the last quarter. Institutional investors and hedge funds own 73.38% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.

Further Reading: Systematic Risk and Investors

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