The Vanguard Group, Inc. recently announced the acquisition of new stake in Dime Community Bancshares Inc. (NASDAQ:DCOM). The institutional investor has increased its shareholding in the Financial company by 0.15% to 3.47 million shares with purchase of 5301.0 shares. This fresh investment now brings its stake to 10.43% valued currently at $50.14 million. In addition, SSgA Funds Management, Inc. raised its holdings by 61186.0 to 1.14 million shares. And Renaissance Technologies LLC has lifted its position by 24.42% or 0.21 million shares – to 1.05 million shares.
With over 0.29 million Dime Community Bancshares Inc. (DCOM) shares trading Friday and a closing price of $12.23 on the day, the dollar volume was approximately $3.57 million. The shares have shown a negative weekly performance of -6.10% and its price on 07/10/20 gained nearly 5.25%. Currently, there are 34.53M common shares owned by the public and among those 28.65M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for DCOM have a consensus price objective of $16.65. The analysts have set the share’s price value over the next 12 months at a high of $19.00 and a low of $13.60 should the stock experience a downside. Incidentally, analysts’ outlook for the Dime Community Bancshares Inc. stock is 2.60 for the next 12 months. The average price target is 27.63% above its last price level and an upside to the estimated low will see the stock gain 10.07% over that period. But an upside of 35.63% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.
Insiders at the company have transacted a total of 49 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 36 of these insider trades were purchases, accounting for 135,787 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 18,426 shares.
The top 3 mutual fund holders in Dime Community Bancshares Inc. are iShares Core S&P Small Cap ETF, Vanguard Total Stock Market Index, and Vanguard Small Cap Index Fund. iShares Core S&P Small Cap ETF owns 1.85 million shares of the company’s stock, all valued at over $26.68 million. The company bought an additional 820.0 shares recently to bring their total holdings to about 5.55% of the shares outstanding. Vanguard Small Cap Index Fund sold 43753.0 shares to bring its total holdings to over 0.79 million shares at a value of $11.46 million. Vanguard Small Cap Index Fund now owns shares totaling to 2.38% of the shares outstanding.
Shares of Dime Community Bancshares Inc. (NASDAQ: DCOM) opened at $11.64, up $0.01 from a prior closing price of $11.63. However, the script later closed the day at $12.23, up 5.25%. The company’s stock has a 5-day price change of -6.10% and -24.57% over the past three months. DCOM shares are trading -41.43% year to date (YTD), with the 12-month market performance down to -35.40% lower. It has a 12-month low price of $11.36 and touched a high of $22.50 over the same period. Currently, 0.29 million shares have been traded, compared to an average intraday trading volume of 241.18K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -6.88%, -13.17%, and -30.21% respectively.
Institutional ownership of Dime Community Bancshares Inc. (NASDAQ: DCOM) shares accounts for 77.40% of the company’s 34.53M shares outstanding. Mutual fund holders own 28.29%, while other institutional holders and individual stakeholders account for 47.39% and 26.93% respectively.
It has a market capitalization of $401.92M and a beta (3y monthly) value of 1.06. The stock’s trailing 12-month PE ratio is 13.17, while the earnings-per-share (ttm) stands at $0.93. The company has a PEG of 10.54 and the debt-to-equity ratio at 0.20. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.84% over the week and 6.18% over the month.
Analysts forecast that Dime Community Bancshares Inc. (DCOM) will achieve an EPS of $0.26 for the current quarter, $0.33 for the next quarter and $1.49 for 2021. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.27. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to decrease by -27.00%, and 18.96% over the next financial year. EPS should grow at an annualized rate of 1.25% over the next five years, compared to -3.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Dime Community Bancshares Inc. (DCOM) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 2 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DCOM, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on April 28, 2020, with the firm’s price target at. DA Davidson coverage for the Dime Community Bancshares Inc. (DCOM) stock in a research note released on March 20, 2020 offered a Buy rating with a price target of $16.50. Raymond James was of a view on December 19, 2019 that the stock is Outperform, while Stephens gave the stock Equal-Weight rating on October 29, 2019, issuing a price target of. Sandler O’Neill on their part issued Hold rating on February 13, 2019.