Dime Community Bancshares (NASDAQ:DCOM) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a research report released on Saturday morning.

A number of other equities research analysts have also weighed in on DCOM. Raymond James raised shares of Dime Community Bancshares from an outperform rating to a strong-buy rating and raised their price target for the company from $29.00 to $35.00 in a report on Tuesday, September 17th. Piper Sandler lowered Dime Community Bancshares from an overweight rating to a neutral rating and lifted their target price for the stock from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $29.25.

Dime Community Bancshares Stock Down 1.8 %

Shares of Dime Community Bancshares stock opened at $28.53 on Friday. Dime Community Bancshares has a twelve month low of $17.29 and a twelve month high of $30.12. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 16.03 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 has a fifty day moving average price of $24.67 and a 200 day moving average price of $21.01.

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 research 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

Several hedge funds and other institutional investors have recently modified their holdings of DCOM. Kimelman & Baird LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $56,000. Nisa Investment Advisors LLC lifted its holdings in shares of Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after purchasing an additional 4,000 shares during the last quarter. Quest Partners LLC bought a new position in Dime Community Bancshares during the 2nd quarter worth $101,000. EMC Capital Management increased its position in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after buying an additional 2,924 shares during the period. Finally, Denali Advisors LLC bought a new stake in Dime Community Bancshares in the second quarter valued at $235,000. Institutional investors own 75.27% of the company’s stock.

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.