Dime Community Bancshares (DCOM) Hits New 1-Year Low at $17.75

Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) reached a new 52-week low on Friday . The company traded as low as $17.75 and last traded at $17.75, with a volume of 151480 shares. The stock had previously closed at $18.35.

DCOM has been the subject of a number of analyst reports. BidaskClub lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Barclays upped their target price on Dime Community Bancshares from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Sandler O’Neill restated a “buy” rating and set a $23.00 target price on shares of Dime Community Bancshares in a report on Friday, January 26th. Keefe, Bruyette & Woods restated a “hold” rating and set a $21.50 target price on shares of Dime Community Bancshares in a report on Tuesday, January 30th. Finally, ValuEngine lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.88.

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The company has a debt-to-equity ratio of 2.14, a current ratio of 1.31 and a quick ratio of 1.31. The company has a market capitalization of $664.42, a price-to-earnings ratio of 13.76 and a beta of 0.74.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, January 25th. The savings and loans company reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. The business had revenue of $52.44 million for the quarter. Dime Community Bancshares had a return on equity of 8.30% and a net margin of 22.21%. equities research analysts predict that Dime Community Bancshares, Inc. will post 1.45 earnings per share for the current year.

In other Dime Community Bancshares news, EVP Stuart H. Lubow purchased 2,300 shares of Dime Community Bancshares stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $19.25 per share, with a total value of $44,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven D. Cohn sold 10,000 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $19.21, for a total value of $192,100.00. Following the transaction, the director now directly owns 81,990 shares in the company, valued at $1,575,027.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 4,300 shares of company stock worth $81,980. Insiders own 7.30% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Phocas Financial Corp. increased its position in shares of Dime Community Bancshares by 348.9% during the fourth quarter. Phocas Financial Corp. now owns 254,489 shares of the savings and loans company’s stock worth $5,332,000 after purchasing an additional 197,800 shares in the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of Dime Community Bancshares during the fourth quarter worth $325,000. Municipal Employees Retirement System of Michigan increased its position in shares of Dime Community Bancshares by 249.5% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 63,190 shares of the savings and loans company’s stock worth $1,324,000 after purchasing an additional 45,110 shares in the last quarter. Millennium Management LLC increased its position in shares of Dime Community Bancshares by 37.5% during the fourth quarter. Millennium Management LLC now owns 96,252 shares of the savings and loans company’s stock worth $2,016,000 after purchasing an additional 26,235 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in shares of Dime Community Bancshares by 10.6% during the fourth quarter. Two Sigma Investments LP now owns 75,878 shares of the savings and loans company’s stock worth $1,590,000 after purchasing an additional 7,243 shares in the last quarter. 72.90% of the stock is currently owned by institutional investors and hedge funds.

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About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.

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