Azora Capital LP Takes $562,000 Position in Dime Community Bancshares, Inc. $DCOM

Azora Capital LP bought a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,669 shares of the savings and loans company’s stock, valued at approximately $562,000.

A number of other institutional investors have also modified their holdings of the business. Orion Porfolio Solutions LLC increased its holdings in shares of Dime Community Bancshares by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock valued at $699,000 after acquiring an additional 819 shares during the period. Larson Financial Group LLC increased its holdings in shares of Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares during the period. Illinois Municipal Retirement Fund increased its holdings in shares of Dime Community Bancshares by 4.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 20,926 shares of the savings and loans company’s stock valued at $624,000 after acquiring an additional 915 shares during the period. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the 4th quarter valued at $28,000. Finally, Gator Capital Management LLC increased its holdings in shares of Dime Community Bancshares by 0.9% in the 4th quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company’s stock valued at $3,315,000 after acquiring an additional 955 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DCOM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods lifted their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price on the stock. Finally, DA Davidson lifted their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director directly owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. The trade was a 4.43% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L sold 15,870 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $40.08, for a total transaction of $636,069.60. Following the completion of the transaction, the director directly owned 7,291 shares in the company, valued at $292,223.28. This represents a 68.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,052 shares of company stock worth $1,823,805 over the last three months. 7.40% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $38.74 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $1.71 billion, a P/E ratio of 16.42 and a beta of 1.00. The company’s fifty day moving average is $36.96 and its two-hundred day moving average is $33.95. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $40.76.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s payout ratio is currently 37.59%.

Dime Community Bancshares Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.