Dime Community Bancshares (NASDAQ:DCOM) Downgraded by StockNews.com

Dime Community Bancshares (NASDAQ:DCOM) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Several other research analysts also recently weighed in on DCOM. Raymond James upgraded shares of Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and upped their target price for the company from $29.00 to $35.00 in a research note on Tuesday. Piper Sandler cut shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and an average price target of $29.25.

Dime Community Bancshares Trading Down 2.8 %

Shares of DCOM opened at $29.06 on Friday. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $30.12. The stock’s 50-day moving average is $24.56 and its two-hundred day moving average is $20.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market cap of $1.13 billion, a PE ratio of 16.33 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The firm had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 million. During the same period in the previous year, the company posted $0.68 EPS. Equities analysts forecast that Dime Community Bancshares will post 1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors have recently modified their holdings of DCOM. Kimelman & Baird LLC acquired a new position in Dime Community Bancshares in the second quarter worth about $56,000. The Manufacturers Life Insurance Company grew its position in shares of Dime Community Bancshares by 1,546.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock worth $4,441,000 after acquiring an additional 204,493 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Dime Community Bancshares by 23.3% in the 2nd quarter. Squarepoint Ops LLC now owns 48,350 shares of the savings and loans company’s stock valued at $986,000 after acquiring an additional 9,144 shares during the last quarter. Public Sector Pension Investment Board raised its position in shares of Dime Community Bancshares by 6.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 77,218 shares of the savings and loans company’s stock valued at $1,575,000 after acquiring an additional 4,712 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Dime Community Bancshares by 5.1% during the second quarter. Thrivent Financial for Lutherans now owns 102,179 shares of the savings and loans company’s stock worth $2,085,000 after purchasing an additional 4,988 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.