AMTB - Dime Community Bancshares: Talk About Timing (Rating Downgrade)
2024-06-02 08:24:53 ET
Summary
- Dime Community Bancshares' stock has only increased by 4.2% while the S&P 500 has risen by 22.3%.
- Recent financial performance shows a decline in net interest income and profits, as well as low asset quality.
- Despite being cheap, DCOM stock is not attractive compared to other opportunities in the market, leading to a downgrade to a 'hold'.
What a difference a few months can make! Back in late September of last year, I performed an analysis of Dime Community Bancshares ( DCOM ), a modestly sized bank with a market capitalization today of only $775.1 million. At that time, I felt as though shares were cheap enough to offer some nice upside for investors. Ultimately, the stock did surge, resulting in upside from the time I rated the company a ‘buy’ through late December of about 42%. Since then, however, weakness in its financial position has helped to push the stock lower. Fast forward to today, and the stock is only up 4.2% at a time when the S&P 500 has risen by 22.3%....
Dime Community Bancshares: Talk About Timing (Rating Downgrade)