Barclays PLC Reaffirms Underweight Rating for Dime Community Bancshares, Inc. (NASDAQ:DCOM)
Barclays PLC reaffirmed their underweight rating on shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in a research report released on Wednesday. Barclays PLC currently has a $20.00 target price on the savings and loans company’s stock, up from their prior target price of $19.00.
Other research analysts have also issued reports about the stock. Piper Jaffray Companies upgraded shares of Dime Community Bancshares from a neutral rating to an overweight rating and increased their price objective for the stock from $20.50 to $22.50 in a report on Tuesday, May 9th. Keefe, Bruyette & Woods set a $22.00 target price on shares of Dime Community Bancshares and gave the stock a hold rating in a research report on Tuesday, April 4th.
Dime Community Bancshares (NASDAQ DCOM) traded up 0.75% during midday trading on Wednesday, reaching $20.25. 106,453 shares of the company traded hands. Dime Community Bancshares has a 12 month low of $16.10 and a 12 month high of $22.48. The firm has a market capitalization of $762.07 million, a PE ratio of 22.30 and a beta of 0.77. The company’s 50-day moving average price is $19.81 and its 200 day moving average price is $20.32.
Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, April 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. The firm had revenue of $39.27 million during the quarter. Dime Community Bancshares had a net margin of 16.13% and a return on equity of 8.01%. On average, equities analysts anticipate that Dime Community Bancshares will post $1.26 earnings per share for the current year.
In other Dime Community Bancshares news, insider Michael Pucella sold 2,012 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $19.34, for a total value of $38,912.08. Following the completion of the sale, the insider now owns 22,838 shares of the company’s stock, valued at $441,686.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven D. Cohn sold 2,761 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $20.35, for a total transaction of $56,186.35. Following the completion of the sale, the director now directly owns 71,990 shares of the company’s stock, valued at approximately $1,464,996.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,992 shares of company stock valued at $118,674. Corporate insiders own 12.70% of the company’s stock.
A number of hedge funds have recently modified their holdings of DCOM. SG Americas Securities LLC purchased a new stake in shares of Dime Community Bancshares during the first quarter valued at about $117,000. State of Alaska Department of Revenue increased its stake in shares of Dime Community Bancshares by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 6,167 shares of the savings and loans company’s stock valued at $120,000 after buying an additional 2,717 shares during the period. Mason Street Advisors LLC increased its stake in shares of Dime Community Bancshares by 6.8% in the first quarter. Mason Street Advisors LLC now owns 7,270 shares of the savings and loans company’s stock valued at $148,000 after buying an additional 461 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Dime Community Bancshares during the first quarter valued at about $163,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Dime Community Bancshares during the first quarter valued at about $225,000. 67.31% of the stock is owned by institutional investors.
Dime Community Bancshares Company Profile
Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.
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