Fintel reports that on May 1, 2023, Raymond James maintained coverage of Dime Community Bancshares (NASDAQ:DCOM) with a Outperform recommendation.
Analyst Price Forecast Suggests 53.50% Upside
As of April 24, 2023, the average one-year price target for Dime Community Bancshares is 31.62. The forecasts range from a low of 29.29 to a high of $35.70. The average price target represents an increase of 53.50% from its latest reported closing price of 20.60.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Dime Community Bancshares is 426MM, an increase of 3.14%. The projected annual non-GAAP EPS is 4.18.
Dime Community Bancshares Declares $0.25 Dividend
On March 9, 2023 the company declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Shareholders of record as of April 17, 2023 received the payment on April 24, 2023. Previously, the company paid $0.24 per share.
At the current share price of $20.60 / share, the stock's dividend yield is 4.85%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.13%, the lowest has been 2.31%, and the highest has been 4.93%. The standard deviation of yields is 0.63 (n=236).
The current dividend yield is 2.72 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 442 funds or institutions reporting positions in Dime Community Bancshares. This is an increase of 17 owner(s) or 4.00% in the last quarter. Average portfolio weight of all funds dedicated to DCOM is 0.12%, an increase of 1.80%. Total shares owned by institutions decreased in the last three months by 0.79% to 31,652K shares. 
The put/call ratio of DCOM is 1.07, indicating a bearish outlook.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 2,795K shares representing 7.20% ownership of the company. In it's prior filing, the firm reported owning 2,793K shares, representing an increase of 0.05%. The firm increased its portfolio allocation in DCOM by 4.47% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,401K shares representing 6.19% ownership of the company. In it's prior filing, the firm reported owning 2,375K shares, representing an increase of 1.09%. The firm decreased its portfolio allocation in DCOM by 0.02% over the last quarter.
Basswood Capital Management, L.l.c. holds 2,245K shares representing 5.78% ownership of the company. In it's prior filing, the firm reported owning 2,632K shares, representing a decrease of 17.26%. The firm decreased its portfolio allocation in DCOM by 6.58% over the last quarter.
William Blair Investment Management holds 1,131K shares representing 2.91% ownership of the company. In it's prior filing, the firm reported owning 1,173K shares, representing a decrease of 3.78%. The firm increased its portfolio allocation in DCOM by 1.38% over the last quarter.
OTCFX - T. Rowe Price Small-Cap Stock Fund holds 1,065K shares representing 2.74% ownership of the company. In it's prior filing, the firm reported owning 1,068K shares, representing a decrease of 0.26%. The firm increased its portfolio allocation in DCOM by 5.71% over the last quarter.
Dime Community Bancshares Background Information
(This description is provided by the company.)
Dime Community Bancshares, Inc., a New York corporation, is a bank holding company engaged in commercial banking and financial services through its wholly owned subsidiary, Dime Community Bank (Dime). Headquartered in Hauppauge, NY, the Bank has over 60 branches spanning Montauk to Manhattan. Dime provides deposit and loan products and financial services to local businesses, consumers and municipalities. Title insurance services are offered through Dime’s wholly owned subsidiary, Bridge Abstract. Bridge Financial Services Inc., a wholly owned subsidiary of Dime, offers financial planning and investment consultation.
See all Dime Community Bancshares regulatory filings.This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
