Dime Community Bancshares (NASDAQ:DCOM) Lifted to Strong-Buy at Raymond James

Raymond James upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from an outperform rating to a strong-buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $35.00 price objective on the savings and loans company’s stock, up from their prior price objective of $29.00.

A number of other research analysts also recently weighed in on DCOM. Piper Sandler downgraded shares of Dime Community Bancshares from an overweight rating to a neutral rating and increased their price objective for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded Dime Community Bancshares from a sell rating to a hold rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $29.25.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $29.06 on Tuesday. The company has a market capitalization of $1.13 billion, a PE ratio of 16.33 and a beta of 1.00. The business has a fifty day moving average price of $24.56 and a 200-day moving average price of $20.90. Dime Community Bancshares has a 1-year low of $17.29 and a 1-year high of $30.12. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter last year, the firm earned $0.68 earnings per share. As a group, equities analysts expect that Dime Community Bancshares will post 1.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DCOM. Kimelman & Baird LLC purchased a new position in shares of Dime Community Bancshares in the second quarter valued at about $56,000. Nisa Investment Advisors LLC raised its stake in Dime Community Bancshares by 496.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after purchasing an additional 4,000 shares during the period. Quest Partners LLC purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $101,000. EMC Capital Management boosted its stake in Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after purchasing an additional 2,924 shares during the period. Finally, Denali Advisors LLC bought a new stake in shares of Dime Community Bancshares during the second quarter valued at approximately $235,000. 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.