Mutual of America Capital Management LLC trimmed its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) by 0.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 114,683 shares of the savings and loans company’s stock after selling 487 shares during the period. Mutual of America Capital Management LLC’s holdings in Dime Community Bancshares were worth $3,965,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in DCOM. Foundry Partners LLC boosted its holdings in shares of Dime Community Bancshares by 9.2% in the fourth quarter. Foundry Partners LLC now owns 141,181 shares of the savings and loans company’s stock worth $4,964,000 after buying an additional 11,910 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Dime Community Bancshares in the fourth quarter worth about $278,000. Qube Research & Technologies Ltd acquired a new position in shares of Dime Community Bancshares in the fourth quarter worth about $391,000. Sage Mountain Advisors LLC purchased a new stake in shares of Dime Community Bancshares in the fourth quarter worth approximately $246,000. Finally, New York State Common Retirement Fund lifted its position in shares of Dime Community Bancshares by 12.3% in the fourth quarter. New York State Common Retirement Fund now owns 111,457 shares of the savings and loans company’s stock worth $3,919,000 after purchasing an additional 12,187 shares in the last quarter. 72.30% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Basswood Capital Management, L sold 20,000 shares of Dime Community Bancshares stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $31.09, for a total value of $621,800.00. Following the transaction, the director now owns 2,051,798 shares of the company’s stock, valued at $63,790,399.82. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 161,760 shares of company stock valued at $4,957,812 over the last 90 days. 15.30% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of Dime Community Bancshares from $40.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 3rd. Raymond James lowered shares of Dime Community Bancshares from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $41.00 to $34.00 in a research report on Thursday, July 7th. Stephens lowered shares of Dime Community Bancshares from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $36.00 to $34.50 in a research report on Monday, May 16th. Finally, StockNews.com assumed coverage on shares of Dime Community Bancshares in a research report on Thursday, March 31st. They issued a “hold” rating for the company.
Dime Community Bancshares Price Performance
Shares of DCOM opened at $31.70 on Tuesday. The firm has a market cap of $1.24 billion, a PE ratio of 8.50 and a beta of 1.04. The firm’s 50 day moving average price is $30.19 and its 200 day moving average price is $32.91. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.92 and a current ratio of 0.93. Dime Community Bancshares, Inc. has a twelve month low of $28.36 and a twelve month high of $38.35.
Dime Community Bancshares (NASDAQ:DCOM – Get Rating) last issued its quarterly earnings data on Friday, April 29th. The savings and loans company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.03). The business had revenue of $96.31 million for the quarter, compared to the consensus estimate of $100.15 million. Dime Community Bancshares had a net margin of 35.58% and a return on equity of 14.40%. During the same period in the previous year, the business posted $0.94 EPS. As a group, research analysts expect that Dime Community Bancshares, Inc. will post 3.4 EPS for the current fiscal year.
Dime Community Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 25th. Stockholders of record on Monday, July 18th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, July 15th. Dime Community Bancshares’s dividend payout ratio is 25.74%.
Dime Community Bancshares Company Profile
Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.
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