Raymond James Increases Dime Community Bancshares (NASDAQ:DCOM) Price Target to $36.00

Dime Community Bancshares (NASDAQ:DCOM) had its target price raised by investment analysts at Raymond James from $35.00 to $36.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “strong-buy” rating on the savings and loans company’s stock. Raymond James’ price objective points to a potential upside of 28.80% from the stock’s current price.

Several other equities research analysts also recently commented on DCOM. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Trading Up 1.3 %

Shares of NASDAQ DCOM opened at $27.95 on Wednesday. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $30.12. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 15.70 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $25.27 and a 200-day simple moving average of $21.51.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The business had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. During the same period in the prior year, the business posted $0.68 earnings per share. Sell-side analysts predict that Dime Community Bancshares will post 1.6 EPS for the current year.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Kimelman & Baird LLC purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter worth about $56,000. The Manufacturers Life Insurance Company raised its stake in shares of Dime Community Bancshares by 1,546.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock worth $4,441,000 after purchasing an additional 204,493 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Dime Community Bancshares by 23.3% during the 2nd quarter. Squarepoint Ops LLC now owns 48,350 shares of the savings and loans company’s stock worth $986,000 after purchasing an additional 9,144 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Dime Community Bancshares by 6.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,218 shares of the savings and loans company’s stock worth $1,575,000 after purchasing an additional 4,712 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Dime Community Bancshares by 5.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 102,179 shares of the savings and loans company’s stock worth $2,085,000 after purchasing an additional 4,988 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

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.