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

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

A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Piper Sandler cut shares of 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 research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $27.25.

Dime Community Bancshares Stock Performance

Shares of Dime Community Bancshares stock opened at $24.87 on Thursday. Dime Community Bancshares has a 12 month low of $17.29 and a 12 month high of $27.91. 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 business has a fifty day simple moving average of $23.30 and a two-hundred day simple moving average of $20.35. The firm has a market capitalization of $969.18 million, a P/E ratio of 13.97 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share 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 company had revenue of $171.23 million during the quarter, compared to the consensus estimate of $82.19 million. During the same quarter last year, the firm earned $0.68 earnings per share. On average, equities analysts forecast that Dime Community Bancshares will post 1.62 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.02%. The ex-dividend date was Wednesday, July 17th. Dime Community Bancshares’s payout ratio is 56.18%.

Institutional Trading of Dime Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new position in Dime Community Bancshares during the 2nd quarter worth $56,000. The Manufacturers Life Insurance Company lifted its position in Dime Community Bancshares by 1,546.1% during 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 during the period. Squarepoint Ops LLC increased its holdings in 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 worth $986,000 after buying an additional 9,144 shares during the period. Public Sector Pension Investment Board boosted its holdings in Dime Community Bancshares by 6.5% in the second 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 purchasing an additional 4,712 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position 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 valued at $2,085,000 after acquiring an additional 4,988 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

About Dime Community Bancshares

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.