Ameriprise Financial Inc. reduced its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 5.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 170,218 shares of the savings and loans company’s stock after selling 9,260 shares during the period. Ameriprise Financial Inc. owned 0.46% of Dime Community Bancshares worth $3,456,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Dime Community Bancshares during the fourth quarter valued at $8,333,000. Hennessy Advisors Inc. acquired a new position in Dime Community Bancshares during the first quarter valued at $5,481,000. LSV Asset Management increased its position in 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 valued at $18,438,000 after buying an additional 149,806 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Dime Community Bancshares by 5.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,412,079 shares of the savings and loans company’s stock valued at $48,483,000 after buying an additional 135,093 shares during the last quarter. Finally, State Street Corp increased its position in Dime Community Bancshares by 18.2% in the fourth quarter. State Street Corp now owns 758,556 shares of the savings and loans company’s stock valued at $15,246,000 after buying an additional 117,030 shares during the last quarter. Institutional investors and hedge funds own 67.32% of the company’s stock.
Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) remained flat at $20.60 during mid-day trading on Monday. The company’s stock had a trading volume of 231,905 shares. The stock has a 50-day moving average price of $19.98 and a 200-day moving average price of $20.33. Dime Community Bancshares, Inc. has a 12 month low of $16.10 and a 12 month high of $22.48. The company has a market cap of $775.24 million, a P/E ratio of 22.69 and a beta of 0.77.
Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, April 27th. The savings and loans company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.03. Dime Community Bancshares had a return on equity of 8.01% and a net margin of 16.13%. The business had revenue of $39.27 million for the quarter. Equities research analysts expect that Dime Community Bancshares, Inc. will post $1.26 EPS for the current year.
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Several research analysts have weighed in on DCOM shares. Keefe, Bruyette & Woods set a $22.00 price target on shares of Dime Community Bancshares and gave the stock a “hold” rating in a research report on Tuesday, April 4th. Piper Jaffray Companies raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $20.50 to $22.50 in a research note on Tuesday, May 9th. Finally, Barclays PLC reissued an “underweight” rating and issued a $20.00 price objective (up from $19.00) on shares of Dime Community Bancshares in a research note on Wednesday, July 12th.
In related news, insider Michael Pucella sold 2,012 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $19.34, for a total value of $38,912.08. Following the completion of the sale, the insider now owns 22,838 shares of the company’s stock, valued at $441,686.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stuart H. Lubow acquired 5,700 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was purchased at an average cost of $19.50 per share, with a total value of $111,150.00. Following the acquisition, the executive vice president now directly owns 5,700 shares of the company’s stock, valued at approximately $111,150. The disclosure for this purchase can be found here. Insiders sold 5,992 shares of company stock valued at $118,674 in the last three months. 12.70% of the stock is currently owned by insiders.
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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