Dime Community Bancshares (NASDAQ:DCOM) Upgraded to “Hold” by StockNews.com

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Other analysts have also issued research reports about the company. Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price target 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. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.25.

Dime Community Bancshares Stock Performance

DCOM opened at $24.79 on Friday. Dime Community Bancshares has a 12-month low of $17.29 and a 12-month high of $27.91. The company has a market cap of $970.53 million, a price-to-earnings ratio of 13.93 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The company’s 50 day moving average is $23.67 and its 200 day moving average is $20.50.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter in the prior year, the firm earned $0.68 EPS. On average, equities research analysts predict that Dime Community Bancshares will post 1.62 EPS for the current year.

Hedge Funds Weigh In On Dime Community Bancshares

Several large investors have recently made changes to their positions in DCOM. Kimelman & Baird LLC acquired a new stake in Dime Community Bancshares in the 2nd quarter valued at approximately $56,000. Nisa Investment Advisors LLC boosted its position in shares of Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after buying an additional 4,000 shares during the period. Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares in the second quarter valued at $101,000. EMC Capital Management raised its holdings in shares of Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after buying an additional 2,924 shares during the period. Finally, Denali Advisors LLC acquired a new position in Dime Community Bancshares during the 2nd quarter worth about $235,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.