Dime Community Bancshares, Inc. $DCOM Shares Sold by LSV Asset Management

LSV Asset Management reduced its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 97.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,400 shares of the savings and loans company’s stock after selling 401,274 shares during the period. LSV Asset Management’s holdings in Dime Community Bancshares were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in DCOM. Raymond James Financial Inc. increased its stake in Dime Community Bancshares by 11.1% in the 1st quarter. Raymond James Financial Inc. now owns 175,293 shares of the savings and loans company’s stock worth $4,887,000 after purchasing an additional 17,499 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Dime Community Bancshares in the first quarter worth approximately $433,000. TD Asset Management Inc lifted its position in shares of Dime Community Bancshares by 19.1% in the 1st quarter. TD Asset Management Inc now owns 78,738 shares of the savings and loans company’s stock valued at $2,195,000 after acquiring an additional 12,652 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Dime Community Bancshares by 144.1% in the 1st quarter. Ieq Capital LLC now owns 22,176 shares of the savings and loans company’s stock valued at $618,000 after acquiring an additional 13,090 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Dime Community Bancshares by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 124,524 shares of the savings and loans company’s stock worth $3,472,000 after purchasing an additional 26,629 shares during the period. 75.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Raymond A. Nielsen sold 2,200 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $26.29, for a total value of $57,838.00. Following the completion of the sale, the director directly owned 33,985 shares in the company, valued at approximately $893,465.65. The trade was a 6.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Basswood Capital Management, L bought 20,537 shares of the firm’s stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $26.26 per share, with a total value of $539,301.62. Following the transaction, the director directly owned 1,034,158 shares of the company’s stock, valued at approximately $27,156,989.08. This trade represents a 2.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 14,200 shares of company stock valued at $414,948. 7.10% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Stock Performance

DCOM stock opened at $27.24 on Friday. The firm has a 50 day moving average of $28.53 and a two-hundred day moving average of $28.15. Dime Community Bancshares, Inc. has a 12 month low of $23.25 and a 12 month high of $37.60. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 23.89 and a beta of 1.15. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.58.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Thursday, October 23rd. The savings and loans company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). The business had revenue of $116.67 million for the quarter, compared to the consensus estimate of $112.75 million. Dime Community Bancshares had a net margin of 8.72% and a return on equity of 7.81%. During the same quarter in the prior year, the business posted $0.29 EPS. As a group, equities analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Stockholders of record on Friday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, October 17th. Dime Community Bancshares’s dividend payout ratio is 87.72%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DCOM shares. Zacks Research downgraded shares of Dime Community Bancshares from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Dime Community Bancshares in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods decreased their price objective on Dime Community Bancshares from $37.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, October 27th. Finally, DA Davidson began coverage on Dime Community Bancshares in a report on Monday, October 27th. They issued a “buy” rating and a $36.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.13.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.