Dime Community Bancshares’ (DCOM) Underweight Rating Reiterated at Barclays PLC

Barclays PLC reissued their underweight rating on shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in a report issued on Wednesday, July 12th. Barclays PLC currently has a $20.00 price objective on the savings and loans company’s stock, up from their prior price objective of $19.00.

DCOM has been the topic of several other reports. 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 note on Tuesday, April 4th. Piper Jaffray Companies raised shares of Dime Community Bancshares from a neutral rating to an overweight rating and increased their target price for the stock from $20.50 to $22.50 in a research note on Tuesday, May 9th.

Dime Community Bancshares (DCOM) remained flat at $20.60 during midday trading on Wednesday. 184,085 shares of the stock were exchanged. 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 $775.24 million, a PE ratio of 22.69 and a beta of 0.77. The stock has a 50 day moving average price of $19.91 and a 200 day moving average price of $20.33.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Thursday, April 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 16.13%. The firm had revenue of $39.27 million for the quarter. On average, equities analysts anticipate that Dime Community Bancshares will post $1.26 earnings per share for the current fiscal year.

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In related news, EVP Stuart H. Lubow purchased 5,700 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were purchased at an average cost of $19.50 per share, with a total value of $111,150.00. Following the purchase, the executive vice president now owns 5,700 shares of the company’s stock, valued at approximately $111,150. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Pucella sold 2,012 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $19.34, for a total transaction of $38,912.08. Following the completion of the transaction, the insider now directly owns 22,838 shares in the company, valued at $441,686.92. The disclosure for this sale can be found here. Insiders sold a total of 5,992 shares of company stock worth $118,674 over the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in DCOM. Aperio Group LLC increased its stake in Dime Community Bancshares by 29.8% in the second quarter. Aperio Group LLC now owns 31,632 shares of the savings and loans company’s stock worth $620,000 after buying an additional 7,260 shares during the last quarter. State of Alaska Department of Revenue increased its stake in 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 worth $120,000 after buying an additional 2,717 shares during the last quarter. AQR Capital Management LLC increased its stake in Dime Community Bancshares by 17.0% in the first quarter. AQR Capital Management LLC now owns 277,977 shares of the savings and loans company’s stock worth $5,643,000 after buying an additional 40,406 shares during the last quarter. State Street Corp increased its stake in Dime Community Bancshares by 9.6% in the first quarter. State Street Corp now owns 831,409 shares of the savings and loans company’s stock worth $16,877,000 after buying an additional 72,853 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Dime Community Bancshares by 44.9% in the first quarter. Bank of America Corp DE now owns 79,242 shares of the savings and loans company’s stock worth $1,609,000 after buying an additional 24,547 shares during the last quarter. Institutional investors own 67.31% of the company’s stock.

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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