Dime Community Bancshares (DCOM) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a research note published on Wednesday.

According to Zacks, “Dime Community Bancshares, Inc. is the holding company The Dime Savings Bank of Williamsburgh. “

Other equities research analysts also recently issued reports about the stock. Sandler O’Neill reiterated a buy rating and set a $22.00 price target on shares of Dime Community Bancshares in a research report on Monday, March 26th. BidaskClub upgraded shares of Dime Community Bancshares from a strong sell rating to a sell rating in a research report on Tuesday, February 6th. Keefe, Bruyette & Woods reiterated a hold rating and set a $20.00 price target on shares of Dime Community Bancshares in a research report on Tuesday, February 27th. Finally, ValuEngine downgraded shares of Dime Community Bancshares from a buy rating to a hold rating in a research report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Dime Community Bancshares has a consensus rating of Hold and an average target price of $21.33.

Shares of NASDAQ:DCOM opened at $20.10 on Wednesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $755.18 million, a P/E ratio of 15.58 and a beta of 0.71. Dime Community Bancshares has a 52 week low of $17.75 and a 52 week high of $22.65.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, April 26th. The savings and loans company reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.04. The firm had revenue of $41.26 million during the quarter. Dime Community Bancshares had a net margin of 23.24% and a return on equity of 8.61%. During the same quarter in the previous year, the business earned $0.30 EPS. sell-side analysts anticipate that Dime Community Bancshares will post 1.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 8th were given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a dividend yield of 22.69%. This is an increase from Dime Community Bancshares’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, May 7th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 43.41%.

In other news, Director Michael P. Devine sold 13,601 shares of Dime Community Bancshares stock in a transaction that occurred on Wednesday, May 2nd. The shares were sold at an average price of $19.75, for a total transaction of $268,619.75. Following the completion of the sale, the director now directly owns 653,856 shares in the company, valued at approximately $12,913,656. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Omer Sj Williams sold 9,826 shares of Dime Community Bancshares stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $19.62, for a total transaction of $192,786.12. Following the sale, the director now owns 47,551 shares of the company’s stock, valued at $932,950.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,733 shares of company stock valued at $487,043. Insiders own 7.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Schroder Investment Management Group increased its stake in shares of Dime Community Bancshares by 22.4% during the 4th quarter. Schroder Investment Management Group now owns 20,197 shares of the savings and loans company’s stock worth $423,000 after purchasing an additional 3,691 shares in the last quarter. Barclays PLC increased its stake in shares of Dime Community Bancshares by 91.9% during the 1st quarter. Barclays PLC now owns 9,644 shares of the savings and loans company’s stock worth $178,000 after purchasing an additional 4,619 shares in the last quarter. Hennessy Advisors Inc. increased its stake in shares of Dime Community Bancshares by 1.7% during the 4th quarter. Hennessy Advisors Inc. now owns 305,000 shares of the savings and loans company’s stock worth $6,390,000 after purchasing an additional 5,000 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Dime Community Bancshares by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 235,186 shares of the savings and loans company’s stock worth $4,327,000 after purchasing an additional 5,550 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Dime Community Bancshares by 8.5% during the 4th quarter. Rhumbline Advisers now owns 73,175 shares of the savings and loans company’s stock worth $1,533,000 after purchasing an additional 5,702 shares in the last quarter. 72.65% of the stock is owned by institutional investors and hedge funds.

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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