Dime Community Bancshares’ (DCOM) Underweight Rating Reaffirmed at Barclays PLC
Dime Community Bancshares, Inc. (NASDAQ:DCOM)‘s stock had its “underweight” rating reissued by research analysts at Barclays PLC in a report issued on Wednesday. They presently have a $20.00 target price on the savings and loans company’s stock, up from their prior target price of $19.00. Barclays PLC’s target price suggests a potential upside of 1.52% from the company’s previous close.
Other equities analysts have also recently issued reports about the stock. Piper Jaffray Companies upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their target price for the company from $20.50 to $22.50 in a research note on Tuesday, May 9th. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Dime Community Bancshares and gave the company a “hold” rating in a research note on Tuesday, April 4th.
Dime Community Bancshares (NASDAQ:DCOM) opened at 19.65 on Wednesday. The stock has a 50 day moving average of $19.81 and a 200-day moving average of $20.32. The stock has a market cap of $739.49 million, a P/E ratio of 21.64 and a beta of 0.77. Dime Community Bancshares has a 52 week low of $16.10 and a 52 week high of $22.48.
Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Thursday, April 27th. The savings and loans company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 16.13%. The firm had revenue of $39.27 million during the quarter. Analysts forecast that Dime Community Bancshares will post $1.26 earnings per share for the current year.
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In other Dime Community Bancshares news, insider Michael Pucella sold 2,012 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $19.34, for a total transaction of $38,912.08. Following the sale, the insider now owns 22,838 shares of the company’s stock, valued at approximately $441,686.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven D. Cohn sold 2,761 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $20.35, for a total transaction of $56,186.35. Following the sale, the director now directly owns 71,990 shares in the company, valued at approximately $1,464,996.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,992 shares of company stock worth $118,674. 12.70% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of DCOM. ClariVest Asset Management LLC raised its position in shares of Dime Community Bancshares by 130,430.9% in the fourth quarter. ClariVest Asset Management LLC now owns 71,792 shares of the savings and loans company’s stock valued at $1,255,000 after buying an additional 71,737 shares during the period. TFS Capital LLC raised its position in shares of Dime Community Bancshares by 929.9% in the fourth quarter. TFS Capital LLC now owns 333,914 shares of the savings and loans company’s stock valued at $5,840,000 after buying an additional 301,493 shares during the period. Russell Frank Co raised its position in shares of Dime Community Bancshares by 29.5% in the fourth quarter. Russell Frank Co now owns 854,757 shares of the savings and loans company’s stock valued at $15,438,000 after buying an additional 194,620 shares during the period. Nordea Investment Management AB acquired a new position in shares of Dime Community Bancshares during the fourth quarter valued at about $1,244,000. Finally, Acadian Asset Management raised its position in shares of Dime Community Bancshares by 33.1% in the fourth quarter. Acadian Asset Management now owns 138,204 shares of the savings and loans company’s stock valued at $2,417,000 after buying an additional 34,391 shares during the period. 67.31% of the stock is currently owned by hedge funds and other institutional investors.
Dime Community Bancshares Company Profile
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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