Dime Community Bancshares (DCOM) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Jun 3, 2016.
Dime Community Bancshares opened for trading at $18.33 and hit $18.66 on the upside on Wednesday, eventually ending the session at $18.52, with a gain of 0.87% or 0.16 points. The heightened volatility saw the trading volume jump to 1,25,842 shares. Company has a market cap of $696 M.
In a different news, on May 31, 2016, Timothy B King (EXECUTIVE VICE PRESIDENT) sold 5,453 shares at $18.55 per share price. According to the SEC, on May 31, 2016, Terence J Mitchell (Exec. VP -Chief Retail Officer) sold 8,541 shares at $18.50 per share price. On May 26, 2016, Steven D Cohn (director) sold 7,500 shares at $18.47 per share price, according to the Form-4 filing with the securities and exchange commission.
Dime Community Bancshares Inc. is a unitary savings and loan holding company. The Company operates as the holding company for The Dime Savings Bank of Williamsburgh (the Bank) a chartered savings bank. 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. The Bank’s primary sources of funds are in general deposits; loan amortization prepayments and maturities; MBS amortization prepayments and maturities; investment securities maturities and sales and advances from the Federal Home Loan Bank of New York (FHLBNY).