Dime Community Bancshares (NASDAQ:DCOM) Stock Rating Upgraded by DA Davidson

Key Points

• Dime Community Bancshares has received a "strong-buy" rating upgrade from DA Davidson, indicating increased analyst confidence in the stock.
• Despite the upgrade, Weiss Ratings maintains a "hold (c)" rating on the shares, reflecting mixed analyst sentiment overall.
• The stock opened at $28.85, with a recent price target averaging $37.17, highlighting potential growth opportunities for investors.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) was upgraded by investment analysts at DA Davidson to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Dime Community Bancshares in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Dime Community Bancshares has an average rating of "Buy" and an average price target of $37.17.

Dime Community Bancshares Stock Up 3.7%

Shares of Dime Community Bancshares stock opened at $28.85 on Monday. The company has a fifty day moving average price of $30.04 and a 200 day moving average price of $27.91. 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 has a twelve month low of $23.25 and a twelve month high of $37.60. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 34.35 and a beta of 1.10.

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 for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Dime Community Bancshares had a net margin of 6.74% and a return on equity of 6.90%. The firm had revenue of $109.54 million during the quarter, compared to analysts' expectations of $107.08 million. During the same period in the prior year, the company earned $0.37 EPS. Equities research analysts forecast that Dime Community Bancshares will post 3.06 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of Dime Community Bancshares

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Dime Community Bancshares by 0.5% during the first quarter. Vanguard Group Inc. now owns 2,754,416 shares of the savings and loans company's stock worth $76,793,000 after buying an additional 14,802 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Dime Community Bancshares by 16.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 2,357,255 shares of the savings and loans company's stock worth $65,721,000 after buying an additional 340,046 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Dime Community Bancshares by 25.3% during the first quarter. Wellington Management Group LLP now owns 1,592,656 shares of the savings and loans company's stock worth $44,403,000 after buying an additional 321,353 shares in the last quarter. Systematic Financial Management LP boosted its holdings in Dime Community Bancshares by 2.3% during the second quarter. Systematic Financial Management LP now owns 1,228,999 shares of the savings and loans company's stock worth $33,109,000 after buying an additional 27,463 shares in the last quarter. Finally, Brown Advisory Inc. boosted its holdings in Dime Community Bancshares by 13.1% during the second quarter. Brown Advisory Inc. now owns 1,129,067 shares of the savings and loans company's stock worth $30,417,000 after buying an additional 131,087 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

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.

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