Dime Community Bancshares (NASDAQ:DCOM) Trading Down 2.4%

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s stock price fell 2.4% during trading on Wednesday . The stock traded as low as $20.19 and last traded at $20.19. 4,909 shares were traded during trading, a decline of 98% from the average session volume of 224,913 shares. The stock had previously closed at $20.69.

Analyst Ratings Changes

Several research firms have commented on DCOM. Raymond James cut their price objective on Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th. DA Davidson restated a “buy” rating and set a $28.00 target price on shares of Dime Community Bancshares in a report on Thursday, March 14th. StockNews.com upgraded Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and set a $25.50 target price on shares of Dime Community Bancshares in a report on Friday, June 28th.

Dime Community Bancshares Stock Down 4.0 %

The stock has a market capitalization of $773.94 million, a price-to-earnings ratio of 11.62 and a beta of 1.01. The business has a fifty day moving average of $19.02 and a 200 day moving average of $20.49. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, April 23rd. The savings and loans company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. Dime Community Bancshares had a return on equity of 7.76% and a net margin of 11.46%. The firm had revenue of $82.00 million for the quarter, compared to analysts’ expectations of $80.15 million. As a group, equities analysts predict that Dime Community Bancshares, Inc. will post 1.65 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Wednesday, July 17th. Dime Community Bancshares’s dividend payout ratio is presently 56.18%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DCOM. Rhumbline Advisers lifted its stake in Dime Community Bancshares by 2.5% during the third quarter. Rhumbline Advisers now owns 107,207 shares of the savings and loans company’s stock worth $2,140,000 after purchasing an additional 2,661 shares in the last quarter. Alps Advisors Inc. acquired a new position in Dime Community Bancshares during the third quarter worth $331,000. American Century Companies Inc. lifted its stake in Dime Community Bancshares by 14.2% during the third quarter. American Century Companies Inc. now owns 369,130 shares of the savings and loans company’s stock worth $7,368,000 after purchasing an additional 46,033 shares in the last quarter. SG Americas Securities LLC lifted its stake in Dime Community Bancshares by 2.7% during the fourth quarter. SG Americas Securities LLC now owns 31,062 shares of the savings and loans company’s stock worth $836,000 after purchasing an additional 825 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in Dime Community Bancshares during the fourth quarter worth $263,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Company Profile

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.