Dime Community Bancshares (NASDAQ:DCOM) Stock Price Down 2.4%

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price dropped 2.4% during trading on Wednesday . The company traded as low as $20.19 and last traded at $20.19. Approximately 4,909 shares were traded during trading, a decline of 98% from the average daily volume of 224,913 shares. The stock had previously closed at $20.69.

Analysts Set New Price Targets

DCOM has been the subject of a number of research reports. StockNews.com upgraded Dime Community Bancshares from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. DA Davidson restated a “buy” rating and issued a $28.00 price target on shares of Dime Community Bancshares in a research report on Thursday, March 14th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $25.50 price target on shares of Dime Community Bancshares in a research report on Friday, June 28th. Finally, Raymond James reduced their price target on Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th.

Dime Community Bancshares Stock Performance

The stock has a market cap of $773.94 million, a P/E ratio of 11.62 and a beta of 1.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.87. The business has a 50 day moving average price of $19.02 and a two-hundred day moving average price of $20.49.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $82.00 million during the quarter, compared to analyst estimates of $80.15 million. Dime Community Bancshares had a return on equity of 7.76% and a net margin of 11.46%. On average, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.65 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Wednesday, July 17th. Dime Community Bancshares’s payout ratio is presently 56.18%.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCOM. First Eagle Investment Management LLC lifted its stake in shares of Dime Community Bancshares by 1,218.3% in the 4th quarter. First Eagle Investment Management LLC now owns 300,654 shares of the savings and loans company’s stock valued at $8,097,000 after purchasing an additional 277,847 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Dime Community Bancshares in the 4th quarter valued at approximately $92,000. Mutual of America Capital Management LLC lifted its stake in shares of Dime Community Bancshares by 48.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 163,148 shares of the savings and loans company’s stock valued at $4,394,000 after purchasing an additional 53,041 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Dime Community Bancshares in the 3rd quarter valued at approximately $331,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Dime Community Bancshares by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,146,521 shares of the savings and loans company’s stock valued at $57,807,000 after purchasing an additional 43,679 shares during the last quarter. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Company Profile

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.