Dime Community Bancshares (NASDAQ:DCOM) Given Hold (C) Rating at Weiss Ratings

Key Points

• Dime Community Bancshares received a "hold (c)" rating from Weiss Ratings, indicating a cautious outlook as stock prices fell by 0.3% to $30.35 during recent trading.
• The company reported quarterly earnings of $0.64 per share, surpassing estimates of $0.63, with total revenue of $109.54 million.
• Insider trading activity included the sale of 10,000 shares by two directors, with corporate insiders owning approximately 7.10% of the company's stock.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report)'s stock had its "hold (c)" rating reiterated by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Dime Community Bancshares Stock Down 0.3%

Dime Community Bancshares stock traded down $0.08 during trading on Wednesday, hitting $30.35. 144,696 shares of the company were exchanged, compared to its average volume of 197,965. The business's 50 day moving average is $29.78 and its 200 day moving average is $27.83. Dime Community Bancshares has a 52 week low of $23.25 and a 52 week high of $37.60. The company has a market capitalization of $1.33 billion, a P/E ratio of 36.13 and a beta of 1.10. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $109.54 million during the quarter, compared to the consensus estimate of $107.08 million. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%.During the same quarter in the prior year, the company posted $0.37 earnings per share. Analysts predict that Dime Community Bancshares will post 3.06 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Raymond A. Nielsen sold 1,000 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $30.92, for a total transaction of $30,920.00. Following the transaction, the director owned 38,185 shares of the company's stock, valued at $1,180,680.20. This represents a 2.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Basswood Capital Management, L sold 9,000 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $30.33, for a total value of $272,970.00. Following the transaction, the director directly owned 1,034,158 shares in the company, valued at $31,366,012.14. This represents a 0.86% decrease in their position. The disclosure for this sale can be found here. 7.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DCOM. Hughes Financial Services LLC purchased a new stake in Dime Community Bancshares during the 1st quarter worth about $37,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Dime Community Bancshares during the 2nd quarter worth about $97,000. GAMMA Investing LLC lifted its holdings in Dime Community Bancshares by 14.0% during the 1st quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock worth $110,000 after purchasing an additional 483 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company's stock worth $156,000 after purchasing an additional 4,446 shares in the last quarter. Finally, CWM LLC lifted its holdings in Dime Community Bancshares by 250.1% during the 1st quarter. CWM LLC now owns 6,035 shares of the savings and loans company's stock worth $168,000 after purchasing an additional 4,311 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Dime Community Bancshares Company Profile

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.

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