Dime Community Bancshares (NASDAQ:DCOM) Downgraded to “Sell” at BidaskClub

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BidaskClub cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a report released on Saturday, BidAskClub reports.

Separately, Zacks Investment Research upgraded shares of Dime Community Bancshares from a hold rating to a strong-buy rating and set a $23.00 target price on the stock in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $20.00.

Dime Community Bancshares stock opened at $21.00 on Friday. Dime Community Bancshares has a 12 month low of $15.48 and a 12 month high of $21.11. The company has a market capitalization of $719.56 million, a price-to-earnings ratio of 15.56 and a beta of 0.89. The business’s fifty day simple moving average is $20.00 and its two-hundred day simple moving average is $19.36. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The firm had revenue of $39.32 million during the quarter, compared to analyst estimates of $38.30 million. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 20.35%.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Wednesday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, August 6th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 41.48%.

Large investors have recently made changes to their positions in the business. Texas Permanent School Fund increased its position in Dime Community Bancshares by 2.8% in the first quarter. Texas Permanent School Fund now owns 20,831 shares of the savings and loans company’s stock worth $390,000 after buying an additional 559 shares in the last quarter. 6 Meridian increased its holdings in Dime Community Bancshares by 2.1% in the 2nd quarter. 6 Meridian now owns 27,133 shares of the savings and loans company’s stock worth $515,000 after acquiring an additional 568 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Dime Community Bancshares by 8.1% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,653 shares of the savings and loans company’s stock worth $349,000 after acquiring an additional 1,400 shares in the last quarter. HM Payson & Co. bought a new stake in Dime Community Bancshares during the 2nd quarter worth approximately $28,000. Finally, HGK Asset Management Inc. raised its stake in Dime Community Bancshares by 19.5% during the 2nd quarter. HGK Asset Management Inc. now owns 15,019 shares of the savings and loans company’s stock worth $285,000 after acquiring an additional 2,449 shares during the period. 72.20% of the stock is currently owned by institutional investors and hedge funds.

About Dime Community Bancshares

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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