Dime Community Bancshares (NASDAQ:DCOM) Upgraded by StockNews.com to Hold

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Raymond James boosted their target price on Dime Community Bancshares from $23.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

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Dime Community Bancshares Stock Down 6.8 %

Shares of Dime Community Bancshares stock opened at $19.53 on Wednesday. The stock’s fifty day moving average is $24.63 and its 200-day moving average is $22.06. The firm has a market capitalization of $758.15 million, a PE ratio of 8.53 and a beta of 1.08. The company has a quick ratio of 1.06, a current ratio of 1.07 and a debt-to-equity ratio of 1.36. Dime Community Bancshares has a 12-month low of $15.57 and a 12-month high of $32.26.

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) last announced its earnings results on Friday, January 26th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The company had revenue of $167.63 million for the quarter, compared to analyst estimates of $81.01 million. Dime Community Bancshares had a return on equity of 9.85% and a net margin of 14.89%. During the same period last year, the firm earned $0.99 earnings per share. Equities analysts anticipate that Dime Community Bancshares will post 2.36 earnings per share for the current year.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 27,068 shares of the stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $622,564.00. Following the completion of the acquisition, the director now owns 1,015,221 shares of the company’s stock, valued at approximately $23,350,083. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. First Republic Investment Management Inc. grew its holdings in Dime Community Bancshares by 1.6% in the 2nd quarter. First Republic Investment Management Inc. now owns 20,845 shares of the savings and loans company’s stock valued at $618,000 after buying an additional 332 shares during the last quarter. FMR LLC grew its holdings in Dime Community Bancshares by 10.1% in the 2nd quarter. FMR LLC now owns 3,879 shares of the savings and loans company’s stock valued at $115,000 after buying an additional 357 shares during the last quarter. Saybrook Capital NC grew its holdings in Dime Community Bancshares by 1.4% in the 2nd quarter. Saybrook Capital NC now owns 36,338 shares of the savings and loans company’s stock valued at $641,000 after buying an additional 500 shares during the last quarter. California State Teachers Retirement System grew its holdings in Dime Community Bancshares by 1.3% in the 2nd quarter. California State Teachers Retirement System now owns 41,471 shares of the savings and loans company’s stock valued at $731,000 after buying an additional 538 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Dime Community Bancshares by 5.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 10,524 shares of the savings and loans company’s stock valued at $185,000 after buying an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 72.25% of the company’s stock.

About Dime Community Bancshares

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Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.

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