** Shares of regional lender Dime Community Bancshares DCOM.O jump as much as 7%, last up 4.9% at $35.34

** Stock trading at its highest since November 2022

** Stephens upgrades DCOM to "overweight" from "equal-weight"; raises PT to $39 from $30, a 15.7% upside to stock's last close

** Brokerage says upgrade follows DCOM's $144 mln equity raise last week

** Given the capital and expected bond portfolio restructuring, Stephens sees dual benefit with higher estimated return on assets (ROA) and reduction in the commercial real estate concentration ratio

** ROA indicates how profitable a company is relative to its total assets

** Four of five brokerages rate the stock "buy" or higher and one "hold"; median PT is $39 — data compiled by LSEG

** As of last close, DCOM shares up 25.1% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com))