Zacks Investment Research upgraded shares of Dime Community Bancshares (NASDAQ:DCOM) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “Dime Community Bancshares, Inc. is the holding company The Dime Savings Bank of Williamsburgh. “

Several other analysts have also recently commented on the stock. BidaskClub cut shares of Dime Community Bancshares from a sell rating to a strong sell rating in a research report on Thursday, September 6th. Keefe, Bruyette & Woods restated a hold rating and issued a $20.50 price objective on shares of Dime Community Bancshares in a research report on Friday, July 13th. ValuEngine upgraded shares of Dime Community Bancshares from a sell rating to a hold rating in a research report on Friday, August 10th. Finally, Barclays lowered their price objective on shares of Dime Community Bancshares from $20.00 to $18.00 and set an underweight rating for the company in a research report on Wednesday, October 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $20.17.

Shares of Dime Community Bancshares stock traded down $0.72 on Tuesday, hitting $16.80. 321,124 shares of the company’s stock traded hands, compared to its average volume of 185,128. The stock has a market capitalization of $668.65 million, a price-to-earnings ratio of 13.02 and a beta of 0.53. Dime Community Bancshares has a one year low of $16.62 and a one year high of $22.65. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.27 and a current ratio of 1.27.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Thursday, July 26th. The savings and loans company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $38.37 million for the quarter, compared to the consensus estimate of $39.50 million. Dime Community Bancshares had a net margin of 23.18% and a return on equity of 8.54%. As a group, research analysts forecast that Dime Community Bancshares will post 1.35 EPS for the current fiscal year.

In other news, EVP Stuart H. Lubow acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average price of $17.80 per share, for a total transaction of $89,000.00. Following the transaction, the executive vice president now directly owns 15,743 shares in the company, valued at $280,225.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders purchased 5,883 shares of company stock valued at $105,072. 7.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in shares of Dime Community Bancshares by 20.2% in the 1st 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 in the last quarter. WBI Investments Inc. bought a new position in Dime Community Bancshares during the 2nd quarter worth about $1,614,000. Schwab Charles Investment Management Inc. increased its holdings in Dime Community Bancshares by 11.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 148,071 shares of the savings and loans company’s stock worth $2,725,000 after purchasing an additional 15,247 shares in the last quarter. BlackRock Inc. increased its holdings in Dime Community Bancshares by 6.9% during the 2nd quarter. BlackRock Inc. now owns 4,637,128 shares of the savings and loans company’s stock worth $90,422,000 after purchasing an additional 298,809 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Dime Community Bancshares by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 235,186 shares of the savings and loans company’s stock worth $4,327,000 after purchasing an additional 5,550 shares in the last quarter. Institutional investors and hedge funds own 72.86% 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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