Russell Investments Group Ltd. Boosts Stake in Dime Community Bancshares, Inc. (DCOM)
Russell Investments Group Ltd. increased its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 642,780 shares of the savings and loans company’s stock after buying an additional 10,400 shares during the period. Russell Investments Group Ltd.’s holdings in Dime Community Bancshares were worth $12,592,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Dime Community Bancshares during the fourth quarter worth $8,333,000. Hennessy Advisors Inc. bought a new stake in shares of Dime Community Bancshares during the first quarter worth $5,481,000. Dimensional Fund Advisors LP boosted its stake in shares of Dime Community Bancshares by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,591,162 shares of the savings and loans company’s stock worth $52,600,000 after buying an additional 179,083 shares during the last quarter. LSV Asset Management boosted its stake in shares of Dime Community Bancshares by 19.7% in the first quarter. LSV Asset Management now owns 908,322 shares of the savings and loans company’s stock worth $18,438,000 after buying an additional 149,806 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Dime Community Bancshares by 9.6% in the first quarter. State Street Corp now owns 831,409 shares of the savings and loans company’s stock worth $16,877,000 after buying an additional 72,853 shares during the last quarter. Institutional investors and hedge funds own 66.81% of the company’s stock.
Shares of Dime Community Bancshares, Inc. (NASDAQ DCOM) traded down 2.57% during mid-day trading on Friday, hitting $18.95. The stock had a trading volume of 196,895 shares. The stock has a market cap of $709.60 million, a price-to-earnings ratio of 20.73 and a beta of 0.77. The firm has a 50 day moving average of $20.05 and a 200 day moving average of $20.33. Dime Community Bancshares, Inc. has a one year low of $16.10 and a one year high of $22.48.
Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $39.80 million during the quarter. Dime Community Bancshares had a net margin of 16.23% and a return on equity of 8.04%. On average, analysts forecast that Dime Community Bancshares, Inc. will post $1.27 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, August 3rd. Dime Community Bancshares’s dividend payout ratio is 60.22%.
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DCOM has been the topic of a number of research reports. Piper Jaffray Companies upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $20.50 to $22.50 in a research report on Tuesday, May 9th. Barclays PLC reiterated an “underweight” rating and set a $20.00 price target (up from $19.00) on shares of Dime Community Bancshares in a research report on Wednesday, July 12th. Finally, BidaskClub cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.50.
About Dime Community Bancshares
Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.
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