Dime Community Bancshares
Polini lowered his rating for Dime Community Bancshares (DCOM) of Brooklyn, N.Y., to "Underperform" from "Market Perform," while leaving his 2012 EPS estimate of $1.20 and his 2013 EPS estimate of $1.15, unchanged.
Dime's shares closed at $12.68 Tuesday, returning 3% year-to-date, after declining 10% during 2011. The shares trade for 1.4 times their reported March 31 tangible book value of $9.15, and for 11 times the consensus 2013 earnings estimate of $1.19. The consensus 2012 EPS estimate is $1.20.
Polini said that Dime's "superior credit quality and balance sheet strength will likely take a back seat to a relatively weak outlook for EPS growth and a relatively high valuation."Based on a 14-cent quarterly payout, the shares have a dividend yield of 4.42%. Dime Community Bancshares was featured on Wednesday as one of five buy-rated bank stocks with attractive dividends that were relatively safe, with the companies paying out less than half of their first-quarter earnings. Interested in more on Dime Community Bancshares? See TheStreet Ratings' report card for this stock.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV