Dime Community Bancshares (NASDAQ:DCOM) Upgraded to Strong-Buy by Zacks Investment Research
Dime Community Bancshares (NASDAQ:DCOM) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks.com reports. The firm presently has a $23.00 target price on the savings and loans company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.63% from the company’s current price.
According to Zacks, “Dime Community Bancshares, Inc. is the holding company The Dime Savings Bank of Williamsburgh. “
Separately, BidaskClub upgraded WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a strong buy rating to the company. Dime Community Bancshares presently has an average rating of “Hold” and an average price target of $20.00.
Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Thursday, July 25th. The savings and loans company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.03. The business had revenue of $39.32 million for the quarter, compared to the consensus estimate of $38.30 million. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 20.35%. Sell-side analysts expect that Dime Community Bancshares will post 1.4 earnings per share for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new position in Dime Community Bancshares in the 2nd quarter valued at $342,000. HGK Asset Management Inc. raised its holdings in Dime Community Bancshares by 19.5% in the 2nd quarter. HGK Asset Management Inc. now owns 15,019 shares of the savings and loans company’s stock valued at $285,000 after acquiring an additional 2,449 shares during the last quarter. 6 Meridian raised its holdings in Dime Community Bancshares by 2.1% in the 2nd quarter. 6 Meridian now owns 27,133 shares of the savings and loans company’s stock valued at $515,000 after acquiring an additional 568 shares during the last quarter. Royce & Associates LP acquired a new position in Dime Community Bancshares in the 1st quarter valued at $309,000. Finally, Acadian Asset Management LLC acquired a new position in Dime Community Bancshares in the 1st quarter valued at $1,545,000. Hedge funds and other institutional investors own 73.44% 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.
Recommended Story: What are the advantages of the Stochastic Momentum Index?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Dime Community Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dime Community Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.