Dime Community Bancshares (DCOM) Cut to Hold at BidaskClub

BidaskClub cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a buy rating to a hold rating in a research note released on Saturday.

A number of other research analysts have also recently weighed in on DCOM. ValuEngine upgraded shares of Dime Community Bancshares from a hold rating to a buy rating in a research report on Friday, September 22nd. Keefe, Bruyette & Woods reiterated a hold rating and set a $23.00 price objective on shares of Dime Community Bancshares in a research report on Tuesday, October 3rd. Piper Jaffray Companies cut shares of Dime Community Bancshares from an overweight rating to a neutral rating in a research report on Friday, November 3rd. Finally, Barclays boosted their price objective on shares of Dime Community Bancshares from $20.00 to $21.00 and gave the company an underweight rating in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $22.17.

Shares of Dime Community Bancshares (NASDAQ:DCOM) opened at $21.15 on Friday. Dime Community Bancshares has a 1 year low of $18.35 and a 1 year high of $22.65. The firm has a market cap of $791.49, a price-to-earnings ratio of 16.52 and a beta of 0.82. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.40 and a quick ratio of 1.40.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, October 26th. The savings and loans company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Dime Community Bancshares had a net margin of 16.99% and a return on equity of 8.28%. The company had revenue of $42.74 million for the quarter.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 13th. Shareholders of record on Monday, November 6th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, November 3rd. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.57%.

In other Dime Community Bancshares news, insider Timothy B. King sold 5,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $22.50, for a total transaction of $112,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP boosted its stake in shares of Dime Community Bancshares by 5.7% during the third quarter. GSA Capital Partners LLP now owns 84,154 shares of the savings and loans company’s stock valued at $1,809,000 after purchasing an additional 4,512 shares during the period. Neuberger Berman Group LLC purchased a new stake in shares of Dime Community Bancshares during the third quarter valued at $213,000. Asset Management One Co. Ltd. purchased a new stake in shares of Dime Community Bancshares during the third quarter valued at $313,000. Dimensional Fund Advisors LP boosted its stake in shares of Dime Community Bancshares by 4.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,921,759 shares of the savings and loans company’s stock valued at $62,817,000 after purchasing an additional 122,016 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Dime Community Bancshares by 5.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 124,930 shares of the savings and loans company’s stock valued at $2,686,000 after purchasing an additional 6,302 shares during the period. 68.36% of the stock is owned by hedge funds and other institutional investors.

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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.

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