Dime Community Bancshares (DCOM) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a buy rating to a hold rating in a research note published on Friday.

A number of other brokerages have also issued reports on DCOM. Barclays upped their price objective on shares of Dime Community Bancshares from $21.00 to $22.00 and gave the company an underweight rating in a report on Tuesday, January 2nd. Piper Jaffray Companies lowered shares of Dime Community Bancshares from an overweight rating to a neutral rating in a report on Friday, November 3rd. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $21.50 target price on shares of Dime Community Bancshares in a research report on Tuesday, January 30th. BidaskClub cut shares of Dime Community Bancshares from a hold rating to a sell rating in a research report on Friday, January 19th. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $23.00 target price on shares of Dime Community Bancshares in a research report on Friday, January 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $22.25.

Shares of Dime Community Bancshares (DCOM) opened at $18.50 on Friday. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.31 and a quick ratio of 1.40. Dime Community Bancshares has a 1-year low of $18.30 and a 1-year high of $22.65. The stock has a market cap of $716.58, a PE ratio of 13.31 and a beta of 0.72.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, January 25th. The savings and loans company reported $0.34 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.34. Dime Community Bancshares had a net margin of 22.21% and a return on equity of 8.30%. The firm had revenue of $52.44 million during the quarter. research analysts expect that Dime Community Bancshares will post 1.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 13th. Shareholders of record on Tuesday, February 6th will be given a $0.14 dividend. The ex-dividend date is Monday, February 5th. This represents a $0.56 dividend on an annualized basis and a yield of 3.03%. Dime Community Bancshares’s payout ratio is currently 40.29%.

In other news, insider Timothy B. King sold 5,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $22.50, for a total transaction of $112,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stuart H. Lubow purchased 2,300 shares of Dime Community Bancshares stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $19.25 per share, for a total transaction of $44,275.00. The disclosure for this purchase can be found here. Corporate insiders own 7.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of DCOM. Peregrine Capital Management LLC acquired a new stake in shares of Dime Community Bancshares during the third quarter worth about $6,819,000. Dimensional Fund Advisors LP lifted its position in shares of Dime Community Bancshares by 8.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,799,743 shares of the savings and loans company’s stock worth $54,875,000 after purchasing an additional 208,581 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Dime Community Bancshares by 22.8% during the third quarter. Systematic Financial Management LP now owns 632,643 shares of the savings and loans company’s stock worth $13,602,000 after purchasing an additional 117,458 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Dime Community Bancshares during the fourth quarter worth about $2,365,000. Finally, LSV Asset Management lifted its position in shares of Dime Community Bancshares by 6.8% during the fourth quarter. LSV Asset Management now owns 1,295,043 shares of the savings and loans company’s stock worth $27,131,000 after purchasing an additional 82,551 shares in the last quarter. 68.57% of the stock is currently owned by institutional investors and hedge funds.

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About Dime Community Bancshares

Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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