Dime Community Bancshares (NASDAQ:DCOM) Stock Rating Lowered by StockNews.com

Dime Community Bancshares (NASDAQ:DCOM) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also recently weighed in on DCOM. Raymond James upgraded shares of Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $29.00 to $35.00 in a research report on Tuesday, September 17th. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average price target of $29.25.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $29.06 on Friday. The company’s 50-day moving average is $24.56 and its 200 day moving average is $20.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.13 billion, a P/E ratio of 16.33 and a beta of 1.00. Dime Community Bancshares has a fifty-two week low of $17.29 and a fifty-two week high of $30.12.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The business had revenue of $171.23 million for the quarter, compared to the consensus estimate of $82.19 million. During the same period in the prior year, the firm earned $0.68 earnings per share. On average, equities research analysts forecast that Dime Community Bancshares will post 1.59 earnings per share for the current year.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. Kimelman & Baird LLC purchased a new position in shares of Dime Community Bancshares in the 2nd quarter worth about $56,000. Nisa Investment Advisors LLC boosted its stake in Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after purchasing an additional 4,000 shares in the last quarter. Quest Partners LLC bought a new position in Dime Community Bancshares in the 2nd quarter worth about $101,000. EMC Capital Management boosted its stake in Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after purchasing an additional 2,924 shares in the last quarter. Finally, Denali Advisors LLC bought a new position in Dime Community Bancshares in the 2nd quarter worth about $235,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

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.