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

BidaskClub lowered shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a report published on Friday, January 19th.

DCOM has been the topic of a number of other research reports. ValuEngine raised Dime Community Bancshares from a hold rating to a buy rating in a research note on Friday, September 22nd. Piper Jaffray Companies lowered Dime Community Bancshares from an overweight rating to a neutral rating in a research report on Friday, November 3rd. Barclays increased their target price on Dime Community Bancshares from $20.00 to $21.00 and gave the stock an underweight rating in a research report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $23.00 target price on shares of Dime Community Bancshares in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Dime Community Bancshares presently has an average rating of Hold and an average target price of $22.25.

Shares of Dime Community Bancshares (NASDAQ DCOM) traded up $0.20 during trading on Friday, hitting $18.55. The company’s stock had a trading volume of 178,990 shares, compared to its average volume of 219,864. Dime Community Bancshares has a one year low of $17.95 and a one year high of $22.65. The stock has a market cap of $686.64, a price-to-earnings ratio of 13.20 and a beta of 0.72. The company has a current ratio of 1.31, a quick ratio of 1.40 and a debt-to-equity ratio of 2.14.

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 for the quarter, hitting analysts’ consensus estimates of $0.34. Dime Community Bancshares had a return on equity of 8.30% and a net margin of 22.21%. The company had revenue of $52.44 million for the quarter. analysts forecast that Dime Community Bancshares will post 1.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 13th. Investors of record on Tuesday, February 6th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.02%. The ex-dividend date was Monday, February 5th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 40.29%.

In related news, Director Steven D. Cohn sold 10,000 shares of the 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 of the company’s stock, valued at approximately $1,575,027.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stuart H. Lubow bought 2,300 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average cost of $19.25 per share, for a total transaction of $44,275.00. The disclosure for this purchase can be found here. Insiders purchased a total of 3,800 shares of company stock worth $72,735 over the last ninety days. Corporate insiders own 7.30% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Peregrine Capital Management LLC purchased a new position in Dime Community Bancshares in the third quarter valued at about $6,819,000. Nordea Investment Management AB raised its position in Dime Community Bancshares by 8.2% in the second quarter. Nordea Investment Management AB now owns 372,796 shares of the savings and loans company’s stock valued at $7,307,000 after purchasing an additional 28,366 shares during the period. GSA Capital Partners LLP raised its position in Dime Community Bancshares by 301.3% in the second quarter. GSA Capital Partners LLP now owns 79,642 shares of the savings and loans company’s stock valued at $1,561,000 after purchasing an additional 59,796 shares during the period. ClariVest Asset Management LLC raised its position in Dime Community Bancshares by 3.5% in the third quarter. ClariVest Asset Management LLC now owns 370,772 shares of the savings and loans company’s stock valued at $7,971,000 after purchasing an additional 12,555 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Dime Community Bancshares by 4.4% in the third quarter. Dimensional Fund Advisors LP now owns 2,921,759 shares of the savings and loans company’s stock valued at $62,817,000 after purchasing an additional 122,016 shares during the period. 68.63% of the stock is currently owned by institutional investors.

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About Dime Community Bancshares

Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.

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