Dime Community Bancshares (NASDAQ:DCOM) Stock Rating Upgraded by Zacks Research

Dime Community Bancshares (NASDAQ:DCOM) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods cut their price target on Dime Community Bancshares from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. Stephens set a $33.00 target price on shares of Dime Community Bancshares and gave the company an “equal weight” rating in a research report on Tuesday, December 16th. Finally, DA Davidson set a $36.00 target price on Dime Community Bancshares in a research note on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $35.25.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $31.25 on Monday. Dime Community Bancshares has a 12-month low of $23.25 and a 12-month high of $34.00. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $28.46 and a 200-day moving average price of $28.77. The firm has a market capitalization of $1.37 billion, a PE ratio of 27.41 and a beta of 1.12.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, October 23rd. The savings and loans company reported $0.61 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.06). Dime Community Bancshares had a net margin of 8.72% and a return on equity of 7.81%. The business had revenue of $116.67 million during the quarter, compared to the consensus estimate of $112.75 million. During the same period last year, the company earned $0.29 EPS. As a group, equities research analysts forecast that Dime Community Bancshares will post 3.06 EPS for the current year.

Insider Transactions at Dime Community Bancshares

In related news, Director Basswood Capital Management, L acquired 20,537 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average price of $26.26 per share, with a total value of $539,301.62. Following the acquisition, the director directly owned 1,034,158 shares in the company, valued at $27,156,989.08. This represents a 2.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Raymond A. Nielsen sold 2,200 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $26.29, for a total value of $57,838.00. Following the completion of the sale, the director owned 33,985 shares in the company, valued at $893,465.65. The trade was a 6.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,695 shares of company stock valued at $125,809 in the last quarter. Company insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of Dime Community Bancshares by 32.7% during the 3rd quarter. Wellington Management Group LLP now owns 3,406,229 shares of the savings and loans company’s stock worth $101,608,000 after purchasing an additional 839,183 shares during the period. Systematic Financial Management LP boosted its holdings in Dime Community Bancshares by 2.3% during the second quarter. Systematic Financial Management LP now owns 1,228,999 shares of the savings and loans company’s stock worth $33,109,000 after buying an additional 27,463 shares in the last quarter. Brown Advisory Inc. grew its position in Dime Community Bancshares by 13.1% during the second quarter. Brown Advisory Inc. now owns 1,129,067 shares of the savings and loans company’s stock valued at $30,417,000 after buying an additional 131,087 shares during the period. Geode Capital Management LLC grew its position in Dime Community Bancshares by 0.5% during the second quarter. Geode Capital Management LLC now owns 978,630 shares of the savings and loans company’s stock valued at $26,367,000 after buying an additional 4,827 shares during the period. Finally, Penn Capital Management Company LLC increased its holdings in Dime Community Bancshares by 20.3% in the third quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock valued at $17,487,000 after buying an additional 98,736 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.