Dime Community Bancshares, Inc. (NASDAQ:DCOM) is a financial institution based in Hauppauge, New York. Through its subsidiary, Dime Community Bank, the company provides a variety of banking and financial services. It emphasizes relationship banking and local decision-making, with a focus on commercial and multifamily real estate loans, construction and land development financing, and residential mortgage lending.
The stock has received a "Moderate Buy" recommendation from six ratings firms. Among these, two analysts suggest holding the stock, three recommend buying, and one gives a strong buy recommendation. The average 12-month price target is set at $38.00. Recent analyst activity includes Wall Street Zen downgrading the stock to "hold" and Keefe, Bruyette & Woods raising their target price to $40.00.
Dime Community Bancshares' shares opened at $32.08, showing a 1.6% decrease. The company has a market capitalization of $1.41 billion, a price-to-earnings (P/E) ratio of 13.59, and a beta of 1.09. The stock's 52-week range is between $23.25 and $36.86, indicating some volatility in its trading history.
In its latest earnings report, Dime Community Bancshares announced earnings per share (EPS) of $0.79, surpassing the consensus estimate of $0.70. The company reported revenue of $123.85 million, exceeding analysts' expectations of $118.14 million. Analysts forecast an EPS of 3.06 for the current fiscal year, suggesting potential growth.
Insider trading activity shows Director Basswood Capital Management and CEO Stuart H. Lubow selling shares at average prices of $34.83 and $35.07, respectively. Insiders have sold a total of 52,865 shares valued at $1.83 million over the past three months. Institutional investors own 75.27% of the stock, with notable increases from the Louisiana State Employees Retirement System and Amalgamated Bank.
