Dime Community Bancshares (NASDAQ:DCOM) Cut to “Sell” at StockNews.com

StockNews.com downgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a research note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Piper Sandler cut Dime Community Bancshares from an overweight rating to a neutral rating and boosted their price target for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, Raymond James raised shares of Dime Community Bancshares from an outperform rating to a strong-buy rating and raised their price target for the stock from $29.00 to $35.00 in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $29.25.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $28.53 on Friday. The firm has a market capitalization of $1.11 billion, a PE ratio of 16.03 and a beta of 1.00. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $30.12. The firm’s 50-day simple moving average is $24.67 and its 200 day simple moving average is $21.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79.

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, beating the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The business had revenue of $171.23 million for the quarter, compared to analyst estimates of $82.19 million. During the same period in the prior year, the business earned $0.68 earnings per share. On average, equities research analysts predict that Dime Community Bancshares will post 1.59 EPS for the current fiscal year.

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently added to or reduced their stakes in DCOM. Charles Schwab Investment Management Inc. boosted its position in shares of Dime Community Bancshares by 6.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 290,838 shares of the savings and loans company’s stock worth $7,832,000 after acquiring an additional 17,446 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Dime Community Bancshares by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,146,521 shares of the savings and loans company’s stock valued at $57,807,000 after buying an additional 43,679 shares during the period. BHZ Capital Management LP increased its holdings in shares of Dime Community Bancshares by 28.7% during the 4th quarter. BHZ Capital Management LP now owns 83,338 shares of the savings and loans company’s stock worth $2,244,000 after buying an additional 18,592 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Dime Community Bancshares in the 4th quarter worth $3,016,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of Dime Community Bancshares by 24.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,837 shares of the savings and loans company’s stock worth $247,000 after buying an additional 2,523 shares during the period. 75.27% of the stock is 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.