UPDATE: Stifel Nicolaus Upgrades Dime Community Bancshares to Buy

Stifel Nicolaus is out with its report today on Dime Community Bancshares DCOM, upgrading DCOM to Buy from Hold. In its report, Stifel Nicolaus writes, "If we assumed a 70% weighting on DCOM's financial multiple and a 30% weighting on its qualitative multiple, we derive a blended P/TB multiple of 157%, or $15.02. Thus, we are raising our rating on DCOM shares and establishing a $15.00 price target, implying a total return of about 49%" At the time of posting, shares of DCOM were trading at $10.78, up 3.06% from Friday's close.