Dime Community Bancshares (NASDAQ:DCOM) Rating Lowered to Neutral at Piper Sandler

Dime Community Bancshares (NASDAQ:DCOM) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued on Tuesday, Briefing.com reports. They presently have a $26.00 price target on the savings and loans company’s stock, up from their prior price target of $23.00. Piper Sandler’s price target would suggest a potential upside of 2.24% from the stock’s current price.

A number of other brokerages have also recently weighed in on DCOM. StockNews.com upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $25.50 price target on shares of Dime Community Bancshares in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $26.63.

Dime Community Bancshares Stock Up 6.6 %

Shares of NASDAQ DCOM traded up $1.58 during mid-day trading on Tuesday, reaching $25.43. The company had a trading volume of 70,477 shares, compared to its average volume of 226,265. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $19.73 and a two-hundred day simple moving average of $20.02. The stock has a market cap of $991.01 million, a P/E ratio of 14.29 and a beta of 1.01. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, April 23rd. The savings and loans company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $82.00 million for the quarter, compared to the consensus estimate of $80.15 million. Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. Sell-side analysts predict that Dime Community Bancshares will post 1.66 earnings per share for the current year.

Institutional Trading of Dime Community Bancshares

Hedge funds have recently made changes to their positions in the company. AJOVista LLC acquired a new stake in shares of Dime Community Bancshares in the 4th quarter worth $82,000. GAMMA Investing LLC acquired a new stake in shares of Dime Community Bancshares in the 4th quarter worth $92,000. Nisa Investment Advisors LLC lifted its stake in shares of Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after acquiring an additional 4,000 shares during the period. EMC Capital Management increased its holdings in shares of Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after purchasing an additional 2,924 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Dime Community Bancshares in the 1st quarter valued at about $243,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

About Dime Community Bancshares

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