Dime Community Bancshares (NASDAQ:DCOM) Sees Unusually-High Trading Volume – What’s Next?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) saw unusually-high trading volume on Tuesday . Approximately 352,739 shares changed hands during trading, an increase of 58% from the previous session’s volume of 223,526 shares.The stock last traded at $33.70 and had previously closed at $34.43.

Analyst Ratings Changes

Several brokerages have recently issued reports on DCOM. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Raymond James boosted their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their price target 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 equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.50.

Dime Community Bancshares Stock Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock’s fifty day simple moving average is $28.97 and its 200 day simple moving average is $23.88. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 22.51 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The company had revenue of $171.87 million during the quarter, compared to analysts’ expectations of $86.65 million. During the same quarter last year, the company earned $0.56 earnings per share. As a group, analysts anticipate that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.96%. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of DCOM. Kimelman & Baird LLC purchased a new stake in Dime Community Bancshares in the second quarter valued at $56,000. GAMMA Investing LLC lifted its holdings in shares of Dime Community Bancshares by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after acquiring an additional 685 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of 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 worth $98,000 after purchasing an additional 4,000 shares during the period. Quest Partners LLC acquired a new stake in Dime Community Bancshares in the 2nd quarter valued at approximately $101,000. Finally, EMC Capital Management raised its position in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after purchasing an additional 2,924 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.