Rockefeller Capital Management L.P. Boosts Holdings in Dime Community Bancshares, Inc. $DCOM

Rockefeller Capital Management L.P. boosted its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 40,939.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,756 shares of the savings and loans company’s stock after buying an additional 37,664 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Dime Community Bancshares were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Dime Community Bancshares by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after acquiring an additional 857,001 shares during the period. State Street Corp grew its position in shares of Dime Community Bancshares by 0.5% during the 4th quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company’s stock valued at $54,885,000 after acquiring an additional 8,936 shares during the period. Verition Fund Management LLC increased its stake in shares of Dime Community Bancshares by 19.8% in the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock worth $18,027,000 after purchasing an additional 99,011 shares in the last quarter. Penn Capital Management Company LLC increased its stake in shares of Dime Community Bancshares by 20.3% in the 3rd quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after purchasing an additional 98,736 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Dime Community Bancshares by 9.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,598 shares of the savings and loans company’s stock valued at $16,116,000 after purchasing an additional 44,122 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Basswood Capital Management, L sold 32,751 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the transaction, the director owned 6,785 shares of the company’s stock, valued at $264,750.70. This represents a 82.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Raymond A. Nielsen sold 1,650 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This represents a 4.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 78,803 shares of company stock worth $3,101,749 over the last 90 days. Company insiders own 7.40% of the company’s stock.

Dime Community Bancshares Trading Down 2.3%

Shares of Dime Community Bancshares stock opened at $40.32 on Friday. The company has a market capitalization of $1.78 billion, a P/E ratio of 17.08 and a beta of 0.99. 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 company has a fifty day moving average of $37.79 and a 200 day moving average of $34.73. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $41.62.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, July 17th. Dime Community Bancshares’s payout ratio is presently 37.59%.

Analyst Ratings Changes

Several analysts have issued reports on DCOM shares. Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. DA Davidson lifted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Piper Sandler started coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

About Dime Community Bancshares

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.