BidaskClub Lowers Dime Community Bancshares (NASDAQ:DCOM) to Sell

BidaskClub cut shares of Dime Community Bancshares (NASDAQ:DCOM) from a hold rating to a sell rating in a research report sent to investors on Saturday, BidAskClub reports.

Separately, Zacks Investment Research raised Dime Community Bancshares from a hold rating to a buy rating and set a $23.00 target price for the company in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Dime Community Bancshares has an average rating of Hold and a consensus target price of $20.13.

Shares of DCOM stock opened at $18.37 on Friday. The firm has a market capitalization of $659.15 million, a P/E ratio of 14.02 and a beta of 0.90. Dime Community Bancshares has a one year low of $15.48 and a one year high of $20.58. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.28 and a quick ratio of 1.28.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Thursday, April 25th. The savings and loans company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $37.68 million during the quarter, compared to analysts’ expectations of $38.70 million. Dime Community Bancshares had a return on equity of 7.87% and a net margin of 20.62%. As a group, sell-side analysts predict that Dime Community Bancshares will post 1.32 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of DCOM. Norges Bank bought a new position in Dime Community Bancshares in the fourth quarter worth $12,399,000. Renaissance Technologies LLC lifted its position in Dime Community Bancshares by 41.1% in the first quarter. Renaissance Technologies LLC now owns 602,300 shares of the savings and loans company’s stock worth $11,281,000 after purchasing an additional 175,400 shares during the period. Brandywine Global Investment Management LLC raised its stake in Dime Community Bancshares by 199.2% during the fourth quarter. Brandywine Global Investment Management LLC now owns 239,694 shares of the savings and loans company’s stock worth $4,071,000 after acquiring an additional 159,575 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Dime Community Bancshares during the first quarter worth $1,545,000. Finally, Goldman Sachs Group Inc. raised its stake in Dime Community Bancshares by 46.7% during the first quarter. Goldman Sachs Group Inc. now owns 220,324 shares of the savings and loans company’s stock worth $4,127,000 after acquiring an additional 70,157 shares in the last quarter. 73.60% of the stock is 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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