Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price reached a new 52-week high on Friday following a dividend announcement from the company. The stock traded as high as $22.55 and last traded at $22.58, with a volume of 54,358 shares trading hands. The stock had previously closed at $21.85.
The newly announced dividend which will be paid on Monday, November 13th. Investors of record on Monday, November 6th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.56%. Dime Community Bancshares’s payout ratio is currently 60.22%.
Several analysts recently issued reports on DCOM shares. Barclays PLC lifted their price target on shares of Dime Community Bancshares from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $22.00 price target on shares of Dime Community Bancshares in a research report on Thursday, August 31st. ValuEngine raised shares of Dime Community Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Finally, BidaskClub downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.17.
The stock has a 50-day moving average price of $20.80 and a 200-day moving average price of $20.07. The stock has a market cap of $844.41 million, a PE ratio of 24.67 and a beta of 0.82.
Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Thursday, July 27th. The savings and loans company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. Dime Community Bancshares had a return on equity of 8.04% and a net margin of 16.23%. The company had revenue of $39.80 million for the quarter. On average, analysts anticipate that Dime Community Bancshares, Inc. will post $1.27 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in Dime Community Bancshares by 98,220.0% in the second quarter. Sei Investments Co. now owns 4,916 shares of the savings and loans company’s stock worth $109,000 after purchasing an additional 4,911 shares during the last quarter. SG Americas Securities LLC purchased a new position in Dime Community Bancshares in the first quarter worth about $117,000. State of Alaska Department of Revenue boosted its position in Dime Community Bancshares by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 6,167 shares of the savings and loans company’s stock worth $120,000 after purchasing an additional 2,717 shares during the last quarter. Mason Street Advisors LLC boosted its position in Dime Community Bancshares by 6.8% in the first quarter. Mason Street Advisors LLC now owns 7,270 shares of the savings and loans company’s stock worth $148,000 after purchasing an additional 461 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Dime Community Bancshares in the first quarter worth about $163,000. 68.00% of the stock is currently owned by institutional investors.
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About Dime Community Bancshares
Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.
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