Dime Community Bancshares (DCOM) Price Target Cut to $17.00 by Analysts at Barclays

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Dime Community Bancshares (NASDAQ:DCOM) had its price objective decreased by Barclays from $18.00 to $17.00 in a research note released on Monday morning. Barclays currently has an underweight rating on the savings and loans company’s stock.

A number of other research firms have also recently issued reports on DCOM. Zacks Investment Research raised shares of Dime Community Bancshares from a sell rating to a hold rating in a report on Monday, July 9th. BidaskClub lowered shares of Dime Community Bancshares from a hold rating to a sell rating in a research note on Friday, July 20th. ValuEngine lowered shares of Dime Community Bancshares from a hold rating to a sell rating in a research note on Saturday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a hold rating and issued a $20.50 price objective on shares of Dime Community Bancshares in a research note on Friday, July 13th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Dime Community Bancshares presently has a consensus rating of Hold and a consensus target price of $19.83.

Shares of NASDAQ DCOM traded down $0.10 during midday trading on Monday, reaching $16.50. The company had a trading volume of 9,174 shares, compared to its average volume of 217,706. The stock has a market cap of $603.85 million, a P/E ratio of 12.79 and a beta of 0.53. Dime Community Bancshares has a 1 year low of $15.48 and a 1 year high of $22.65. The company has a current ratio of 1.26, a quick ratio of 1.27 and a debt-to-equity ratio of 1.92.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Friday, October 26th. The savings and loans company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.01). The company had revenue of $37.25 million during the quarter, compared to analysts’ expectations of $37.90 million. Dime Community Bancshares had a return on equity of 8.34% and a net margin of 22.65%. As a group, sell-side analysts forecast that Dime Community Bancshares will post 1.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Stockholders of record on Tuesday, November 6th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 5th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.39%. Dime Community Bancshares’s payout ratio is currently 43.41%.

In other Dime Community Bancshares news, EVP Stuart H. Lubow acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 9th. The shares were purchased at an average price of $17.80 per share, for a total transaction of $89,000.00. Following the completion of the purchase, the executive vice president now directly owns 15,743 shares of the company’s stock, valued at $280,225.40. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders bought 5,883 shares of company stock worth $105,072 in the last quarter. Company insiders own 7.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in Dime Community Bancshares by 6.9% during the second quarter. BlackRock Inc. now owns 4,637,128 shares of the savings and loans company’s stock valued at $90,422,000 after buying an additional 298,809 shares during the period. United Services Automobile Association grew its position in Dime Community Bancshares by 66.5% during the second quarter. United Services Automobile Association now owns 172,046 shares of the savings and loans company’s stock valued at $3,355,000 after buying an additional 68,700 shares during the period. Northern Trust Corp grew its position in Dime Community Bancshares by 1.1% during the second quarter. Northern Trust Corp now owns 1,364,775 shares of the savings and loans company’s stock valued at $26,613,000 after buying an additional 15,103 shares during the period. Legal & General Group Plc grew its position in Dime Community Bancshares by 20.2% during the first quarter. Legal & General Group Plc now owns 66,937 shares of the savings and loans company’s stock valued at $1,235,000 after buying an additional 11,245 shares during the period. Finally, WBI Investments Inc. acquired a new stake in Dime Community Bancshares during the second quarter valued at $1,614,000. Hedge funds and other institutional investors own 72.71% of the company’s stock.

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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