Sandler O’Neill Downgrades Dime Community Bancshares (DCOM) to Hold

Dime Community Bancshares (NASDAQ:DCOM) was downgraded by research analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, The Fly reports.

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Zacks Investment Research raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, January 1st. ValuEngine raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, November 23rd. Finally, Barclays decreased their price target on shares of Dime Community Bancshares from $18.00 to $17.00 and set an “underweight” rating on the stock in a research note on Monday, October 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $20.38.

DCOM stock opened at $19.94 on Wednesday. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.27 and a quick ratio of 1.27. Dime Community Bancshares has a 12 month low of $15.48 and a 12 month high of $20.85. The company has a market capitalization of $723.08 million, a PE ratio of 14.77 and a beta of 0.81.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, January 24th. The savings and loans company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Dime Community Bancshares had a net margin of 22.18% and a return on equity of 8.22%. The business had revenue of $38.97 million during the quarter, compared to analyst estimates of $37.20 million. Equities research analysts predict that Dime Community Bancshares will post 1.3 EPS for the current year.

In other Dime Community Bancshares news, EVP Timothy Lenhoff sold 3,676 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $18.07, for a total transaction of $66,425.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired 2,850 shares of company stock worth $49,419 over the last three months. Insiders own 7.60% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its stake in shares of Dime Community Bancshares by 5.6% in the third quarter. BlackRock Inc. now owns 4,895,922 shares of the savings and loans company’s stock worth $87,391,000 after buying an additional 258,794 shares during the period. Vanguard Group Inc. increased its stake in shares of Dime Community Bancshares by 2.4% in the third quarter. Vanguard Group Inc. now owns 3,316,518 shares of the savings and loans company’s stock worth $59,200,000 after buying an additional 78,348 shares during the period. Vanguard Group Inc increased its stake in shares of Dime Community Bancshares by 2.4% in the third quarter. Vanguard Group Inc now owns 3,316,518 shares of the savings and loans company’s stock worth $59,200,000 after buying an additional 78,348 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Dime Community Bancshares by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 3,147,019 shares of the savings and loans company’s stock worth $56,173,000 after buying an additional 23,426 shares during the period. 72.26% of the stock is currently owned by hedge funds and other institutional investors.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.

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