Dime Community Bancshares (DCOM) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a research note published on Wednesday morning.

According to Zacks, “Dime Community Bancshares, Inc. is the holding company The Dime Savings Bank of Williamsburgh. “

Several other analysts have also recently commented on the stock. BidaskClub raised shares of Dime Community Bancshares from a strong sell rating to a sell rating in a research note on Thursday, March 8th. Sandler O’Neill reaffirmed a buy rating and issued a $22.00 target price on shares of Dime Community Bancshares in a research note on Monday, March 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $20.00 target price on shares of Dime Community Bancshares in a research note on Tuesday, February 27th. Finally, ValuEngine cut shares of Dime Community Bancshares from a buy rating to a hold rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Dime Community Bancshares has an average rating of Hold and a consensus price target of $21.33.

Shares of Dime Community Bancshares opened at $20.10 on Wednesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.28 and a quick ratio of 1.28. Dime Community Bancshares has a 1-year low of $17.75 and a 1-year high of $22.65. The company has a market cap of $755.18 million, a PE ratio of 15.58 and a beta of 0.71.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Thursday, April 26th. The savings and loans company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.04. Dime Community Bancshares had a net margin of 23.24% and a return on equity of 8.61%. The business had revenue of $41.26 million during the quarter. During the same period last year, the business earned $0.30 earnings per share. sell-side analysts expect that Dime Community Bancshares will post 1.42 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 8th were paid a $1.14 dividend. This is a boost from Dime Community Bancshares’s previous quarterly dividend of $0.14. This represents a $4.56 annualized dividend and a yield of 22.69%. The ex-dividend date was Monday, May 7th. Dime Community Bancshares’s payout ratio is presently 43.41%.

In other Dime Community Bancshares news, Director Omer Sj Williams sold 9,826 shares of Dime Community Bancshares stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $19.62, for a total value of $192,786.12. Following the completion of the sale, the director now directly owns 47,551 shares of the company’s stock, valued at approximately $932,950.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James L. Rizzo sold 1,306 shares of Dime Community Bancshares stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $19.63, for a total transaction of $25,636.78. The disclosure for this sale can be found here. Insiders sold a total of 24,733 shares of company stock valued at $487,043 over the last ninety days. 7.30% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Salzhauer Michael acquired a new position in shares of Dime Community Bancshares in the 4th quarter valued at $629,000. Chartwell Investment Partners LLC boosted its holdings in shares of Dime Community Bancshares by 89.9% in the 4th quarter. Chartwell Investment Partners LLC now owns 195,074 shares of the savings and loans company’s stock valued at $4,087,000 after purchasing an additional 92,366 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Dime Community Bancshares by 9.1% in the 4th quarter. Wells Fargo & Company MN now owns 110,505 shares of the savings and loans company’s stock valued at $2,315,000 after purchasing an additional 9,255 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Dime Community Bancshares by 7.7% in the 4th quarter. California Public Employees Retirement System now owns 134,192 shares of the savings and loans company’s stock valued at $2,811,000 after purchasing an additional 9,560 shares during the last quarter. Finally, Phocas Financial Corp. boosted its holdings in shares of Dime Community Bancshares by 348.9% in the 4th quarter. Phocas Financial Corp. now owns 254,489 shares of the savings and loans company’s stock valued at $5,332,000 after purchasing an additional 197,800 shares during the last quarter. Institutional investors own 72.65% of the company’s stock.

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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