Dime Community Bancshares (NASDAQ:DCOM) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Dime Community Bancshares (NASDAQ:DCOMFree Report) from a hold rating to a buy rating in a report released on Friday.

DCOM has been the topic of several other research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Dime Community Bancshares in a research note on Wednesday. Zacks Research upgraded Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday. Stephens lifted their price objective on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, DA Davidson boosted their price objective on Dime Community Bancshares from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $38.33.

Read Our Latest Stock Report on DCOM

Dime Community Bancshares Stock Down 3.1%

DCOM stock opened at $32.82 on Friday. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 13.91 and a beta of 1.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.02. The business’s 50-day moving average is $30.03 and its two-hundred day moving average is $29.33. Dime Community Bancshares has a fifty-two week low of $23.25 and a fifty-two week high of $34.85.

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) last released its quarterly earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The firm had revenue of $123.85 million during the quarter, compared to analyst estimates of $118.14 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter in the prior year, the firm earned $0.42 EPS. As a group, analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, January 16th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, January 16th. Dime Community Bancshares’s dividend payout ratio is presently 87.72%.

Insider Buying and Selling

In other news, Director Raymond A. Nielsen sold 2,200 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $26.29, for a total transaction of $57,838.00. Following the sale, the director owned 33,985 shares in the company, valued at $893,465.65. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Basswood Capital Management, L bought 20,537 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average price of $26.26 per share, with a total value of $539,301.62. Following the transaction, the director owned 1,034,158 shares of the company’s stock, valued at $27,156,989.08. The trade was a 2.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have sold 4,695 shares of company stock valued at $125,809. Insiders own 7.10% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in 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 valued at $101,608,000 after buying an additional 839,183 shares in the last quarter. Systematic Financial Management LP grew its holdings in shares of Dime Community Bancshares by 2.3% in the second quarter. Systematic Financial Management LP now owns 1,228,999 shares of the savings and loans company’s stock valued at $33,109,000 after purchasing an additional 27,463 shares in the last quarter. Brown Advisory Inc. increased its position in Dime Community Bancshares by 13.1% in the second quarter. Brown Advisory Inc. now owns 1,129,067 shares of the savings and loans company’s stock worth $30,417,000 after purchasing an additional 131,087 shares during the last quarter. Geode Capital Management LLC raised its stake 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 purchasing an additional 4,827 shares in the last quarter. Finally, Penn Capital Management Company LLC lifted its position in Dime Community Bancshares by 20.3% during 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 purchasing an additional 98,736 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares News Summary

Here are the key news stories impacting Dime Community Bancshares this week:

Dime Community Bancshares Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Dime Community Bancshares (NASDAQ:DCOM)

Receive News & Ratings for Dime Community Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dime Community Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.