Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) had its target price reduced by research analysts at Keefe, Bruyette & Woods from $42.00 to $41.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the savings and loans company’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 32.26% from the stock’s previous close.
DCOM has been the subject of several other research reports. Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their price target for the company from $36.00 to $38.00 in a report on Thursday. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $39.00 in a report on Monday, November 18th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $36.40.
Read Our Latest Stock Report on Dime Community Bancshares
Dime Community Bancshares Stock Performance
Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. Equities research analysts forecast that Dime Community Bancshares will post 1.49 EPS for the current fiscal year.
Insider Transactions at Dime Community Bancshares
In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were purchased at an average price of $32.00 per share, with a total value of $928,000.00. Following the completion of the purchase, the director now owns 1,044,221 shares in the company, valued at $33,415,072. This represents a 2.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at 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 value of $71,520.00. Following the sale, the chief technology officer now directly owns 20,155 shares of the company’s stock, valued at $720,742.80. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.10% of the company’s stock.
Institutional Trading of Dime Community Bancshares
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of Dime Community Bancshares by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock worth $44,328,000 after purchasing an additional 13,650 shares during the last quarter. Systematic Financial Management LP grew its stake 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 worth $31,416,000 after acquiring an additional 143,402 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Dime Community Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock valued at $24,773,000 after acquiring an additional 9,978 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of Dime Community Bancshares by 47.4% in the third quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after purchasing an additional 162,004 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Dime Community Bancshares by 120.9% in the third 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 purchasing an additional 263,225 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.
About Dime Community Bancshares
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.
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