Dime Community Bancshares (DCOM) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a strong sell rating in a report released on Friday.

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

DCOM has been the subject of a number of other research reports. ValuEngine downgraded shares of Dime Community Bancshares from a sell rating to a strong sell rating in a report on Monday, July 30th. BidaskClub upgraded shares of Dime Community Bancshares from a strong sell rating to a sell rating in a report on Friday, October 5th. Barclays cut their price target on shares of Dime Community Bancshares from $18.00 to $17.00 and set an underweight rating for the company in a report on Monday, October 29th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $20.50 price target on shares of Dime Community Bancshares in a report on Friday, July 13th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Dime Community Bancshares currently has an average rating of Hold and an average price target of $19.83.

DCOM stock traded up $0.15 during mid-day trading on Friday, reaching $16.47. The company’s stock had a trading volume of 143,889 shares, compared to its average volume of 238,895. The company has a market cap of $616.95 million, a price-to-earnings ratio of 12.77 and a beta of 0.66. The company has a current ratio of 1.26, a quick ratio of 1.27 and a debt-to-equity ratio of 1.92. Dime Community Bancshares has a fifty-two week low of $15.48 and a fifty-two week high of $22.65.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Friday, October 26th. The savings and loans company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). The business had revenue of $37.25 million during the quarter, compared to analyst estimates of $37.90 million. Dime Community Bancshares had a net margin of 22.65% and a return on equity of 8.34%. As a group, equities analysts forecast that Dime Community Bancshares will post 1.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, November 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.40%. Dime Community Bancshares’s dividend payout ratio is currently 43.41%.

In other news, EVP Stuart H. Lubow purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was acquired at an average price of $17.80 per share, for a total transaction of $89,000.00. Following the acquisition, the executive vice president now directly owns 15,743 shares of the company’s stock, valued at $280,225.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought a total of 5,883 shares of company stock valued at $105,072 in the last 90 days. Insiders own 7.30% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Piedmont Investment Advisors LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter worth approximately $141,000. Barclays PLC increased its holdings in shares of Dime Community Bancshares by 91.9% during the 1st quarter. Barclays PLC now owns 9,644 shares of the savings and loans company’s stock worth $178,000 after buying an additional 4,619 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Dime Community Bancshares during the 3rd quarter worth approximately $238,000. SG Americas Securities LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter worth approximately $322,000. Finally, HGK Asset Management Inc. increased its holdings in shares of Dime Community Bancshares by 19.3% during the 2nd quarter. HGK Asset Management Inc. now owns 18,619 shares of the savings and loans company’s stock worth $363,000 after buying an additional 3,013 shares during the last quarter. Institutional investors and hedge funds own 72.71% 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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