Dime Community Bancshares (NASDAQ:DCOM) Rating Increased to Hold at Zacks Investment Research

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

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

DCOM has been the topic of several other reports. DA Davidson initiated coverage on shares of Dime Community Bancshares in a report on Thursday, March 19th. They issued a “buy” rating and a $16.50 price target on the stock. BidaskClub lowered shares of Dime Community Bancshares from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 20th. TheStreet lowered shares of Dime Community Bancshares from a “b-” rating to a “c+” rating in a research note on Thursday, March 12th. Finally, Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research note on Tuesday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. Dime Community Bancshares currently has a consensus rating of “Hold” and an average target price of $20.30.

NASDAQ:DCOM traded up $0.33 during mid-day trading on Tuesday, hitting $13.73. The company’s stock had a trading volume of 186,939 shares, compared to its average volume of 192,347. Dime Community Bancshares has a 1 year low of $11.43 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $419.48 million, a price-to-earnings ratio of 0.70 and a beta of 1.06. The business’s fifty day moving average is $14.00 and its two-hundred day moving average is $16.68.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, April 28th. The savings and loans company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.04). Dime Community Bancshares had a net margin of 13.05% and a return on equity of 5.98%. The business had revenue of $44.76 million during the quarter, compared to analysts’ expectations of $42.63 million. Analysts anticipate that Dime Community Bancshares will post 1.11 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Dime Community Bancshares by 5.7% during the 1st quarter. State Street Corp now owns 1,135,759 shares of the savings and loans company’s stock worth $15,571,000 after purchasing an additional 61,186 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Dime Community Bancshares by 22.6% in the 4th quarter. Renaissance Technologies LLC now owns 842,800 shares of the savings and loans company’s stock valued at $17,606,000 after acquiring an additional 155,200 shares during the last quarter. Norges Bank acquired a new stake in Dime Community Bancshares in the 4th quarter valued at about $14,510,000. Geode Capital Management LLC raised its holdings in Dime Community Bancshares by 3.2% in the 1st quarter. Geode Capital Management LLC now owns 466,352 shares of the savings and loans company’s stock valued at $6,393,000 after acquiring an additional 14,616 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in Dime Community Bancshares by 27.0% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 350,865 shares of the savings and loans company’s stock valued at $7,330,000 after acquiring an additional 74,590 shares during the last quarter. Hedge funds and other institutional investors own 71.80% 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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