Dime Community Bancshares (DCOM) Rating Lowered to Hold at BidaskClub

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BidaskClub lowered shares of Dime Community Bancshares (NASDAQ:DCOM) from a buy rating to a hold rating in a research note published on Friday morning.

Other analysts also recently issued research reports about the stock. Barclays cut their price target on shares of Dime Community Bancshares from $18.00 to $17.00 and set an underweight rating for the company in a report on Monday, October 29th. Zacks Investment Research upgraded shares of Dime Community Bancshares from a sell rating to a hold rating in a research report on Tuesday, January 1st. Finally, ValuEngine upgraded shares of Dime Community Bancshares from a sell rating to a hold rating in a research report on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $19.83.

Shares of Dime Community Bancshares stock traded up $0.09 on Friday, reaching $17.45. 166,231 shares of the stock were exchanged, compared to its average volume of 154,313. Dime Community Bancshares has a one year low of $15.48 and a one year high of $22.25. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.92. The company has a market cap of $643.62 million, a PE ratio of 13.53 and a beta of 0.69.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Friday, October 26th. The savings and loans company reported $0.32 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). Dime Community Bancshares had a return on equity of 8.34% and a net margin of 22.65%. The firm had revenue of $37.25 million for the quarter, compared to the consensus estimate of $37.90 million. Research analysts forecast that Dime Community Bancshares will post 1.33 earnings per share for the current year.

In related news, EVP Timothy Lenhoff sold 3,676 shares of the company’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $18.07, for a total transaction of $66,425.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have purchased 3,450 shares of company stock valued at $59,223. 7.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in DCOM. First Trust Advisors LP increased its position in Dime Community Bancshares by 21.4% during the 2nd quarter. First Trust Advisors LP now owns 53,108 shares of the savings and loans company’s stock worth $1,036,000 after purchasing an additional 9,344 shares in the last quarter. Bank of New York Mellon Corp increased its position in Dime Community Bancshares by 0.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 446,575 shares of the savings and loans company’s stock worth $8,709,000 after purchasing an additional 4,012 shares in the last quarter. SG Americas Securities LLC acquired a new position in Dime Community Bancshares during the 2nd quarter worth approximately $322,000. Schwab Charles Investment Management Inc. increased its position in Dime Community Bancshares by 8.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 161,123 shares of the savings and loans company’s stock valued at $3,142,000 after acquiring an additional 13,052 shares during the period. Finally, BlackRock Inc. increased its position in Dime Community Bancshares by 6.9% in the 2nd quarter. BlackRock Inc. now owns 4,637,128 shares of the savings and loans company’s stock valued at $90,422,000 after acquiring an additional 298,809 shares during the period. Institutional investors and hedge funds own 71.94% of the company’s stock.

Dime Community Bancshares Company Profile

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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