Piper Jaffray Companies Downgrades Dime Community Bancshares, Inc. (NASDAQ:DCOM) to Neutral

Dime Community Bancshares, Inc. (NASDAQ:DCOM) was downgraded by research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research note issued on Friday, November 3rd, Marketbeat Ratings reports.

DCOM has been the subject of a number of other reports. BidaskClub downgraded Dime Community Bancshares from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. ValuEngine upgraded Dime Community Bancshares from a “hold” rating to a “buy” rating in a report on Friday, September 22nd. Barclays PLC raised their price objective on Dime Community Bancshares from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Wednesday, October 11th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 target price on shares of Dime Community Bancshares in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $22.17.

Dime Community Bancshares (NASDAQ:DCOM) traded down $0.05 during trading hours on Friday, hitting $21.05. The stock had a trading volume of 159,096 shares, compared to its average volume of 162,299. The firm has a market cap of $787.75, a PE ratio of 16.44 and a beta of 0.83. Dime Community Bancshares has a twelve month low of $18.00 and a twelve month high of $22.65. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 2.27.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, October 26th. The savings and loans company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $42.74 million during the quarter. Dime Community Bancshares had a return on equity of 8.28% and a net margin of 16.99%. research analysts forecast that Dime Community Bancshares will post 1.29 EPS for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of DCOM. GSA Capital Partners LLP raised its stake in Dime Community Bancshares by 5.7% during the 3rd quarter. GSA Capital Partners LLP now owns 84,154 shares of the savings and loans company’s stock valued at $1,809,000 after purchasing an additional 4,512 shares during the period. Neuberger Berman Group LLC purchased a new position in shares of Dime Community Bancshares during the 3rd quarter valued at $213,000. Asset Management One Co. Ltd. purchased a new position in shares of Dime Community Bancshares during the 3rd quarter valued at $313,000. Dimensional Fund Advisors LP grew its holdings in shares of Dime Community Bancshares by 4.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,921,759 shares of the savings and loans company’s stock valued at $62,817,000 after acquiring an additional 122,016 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Dime Community Bancshares by 5.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 124,930 shares of the savings and loans company’s stock valued at $2,686,000 after acquiring an additional 6,302 shares in the last quarter. 68.47% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

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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