Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) – Equities research analysts at DA Davidson raised their FY2022 earnings per share (EPS) estimates for Dime Community Bancshares in a research note issued to investors on Tuesday, August 2nd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings of $3.65 per share for the year, up from their prior forecast of $3.62. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $3.40 per share. DA Davidson also issued estimates for Dime Community Bancshares’ FY2023 earnings at $3.95 EPS.
A number of other equities analysts have also recently weighed in on the company. Raymond James cut Dime Community Bancshares from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $41.00 to $34.00 in a research note on Thursday, July 7th. Piper Sandler dropped their price target on Dime Community Bancshares from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 3rd. Finally, Stephens cut Dime Community Bancshares from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $36.00 to $34.50 in a research note on Monday, May 16th.
Dime Community Bancshares Trading Down 0.6 %
Institutional Investors Weigh In On Dime Community Bancshares
Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC acquired a new stake in shares of Dime Community Bancshares during the 4th quarter valued at about $31,000. Landmark Wealth Management LLC bought a new position in shares of Dime Community Bancshares in the 1st quarter valued at approximately $53,000. Point72 Hong Kong Ltd raised its stake in shares of Dime Community Bancshares by 1,225.8% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,750 shares of the savings and loans company’s stock valued at $60,000 after acquiring an additional 1,618 shares in the last quarter. KBC Group NV bought a new position in shares of Dime Community Bancshares in the 2nd quarter valued at approximately $81,000. Finally, SG Americas Securities LLC bought a new position in shares of Dime Community Bancshares in the 1st quarter valued at approximately $167,000. 72.30% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Dime Community Bancshares news, Director Raymond A. Nielsen acquired 1,798 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was purchased at an average cost of $34.18 per share, for a total transaction of $61,455.64. Following the transaction, the director now owns 37,392 shares of the company’s stock, valued at approximately $1,278,058.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Raymond A. Nielsen purchased 1,798 shares of Dime Community Bancshares stock in a transaction dated Tuesday, August 2nd. The stock was acquired at an average cost of $34.18 per share, for a total transaction of $61,455.64. Following the acquisition, the director now directly owns 37,392 shares in the company, valued at $1,278,058.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Basswood Capital Management, L sold 45,094 shares of Dime Community Bancshares stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $31.44, for a total value of $1,417,755.36. Following the sale, the director now owns 2,071,798 shares of the company’s stock, valued at $65,137,329.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 161,760 shares of company stock worth $4,957,812. 15.30% of the stock is currently owned by company insiders.
Dime Community Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 25th. Shareholders of record on Monday, July 18th were given a dividend of $0.24 per share. The ex-dividend date was Friday, July 15th. This represents a $0.96 dividend on an annualized basis and a yield of 2.85%. Dime Community Bancshares’s payout ratio is presently 27.59%.
About Dime Community Bancshares
Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.
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