Arizona State Retirement System boosted its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 0.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,170 shares of the savings and loans company’s stock after buying an additional 100 shares during the period. Arizona State Retirement System’s holdings in Dime Community Bancshares were worth $328,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in shares of Dime Community Bancshares during the first quarter valued at $225,000. Acadian Asset Management LLC raised its position in shares of Dime Community Bancshares by 46.9% in the first quarter. Acadian Asset Management LLC now owns 139,572 shares of the savings and loans company’s stock valued at $2,834,000 after buying an additional 44,564 shares during the last quarter. Boston Advisors LLC raised its position in shares of Dime Community Bancshares by 21.3% in the first quarter. Boston Advisors LLC now owns 223,750 shares of the savings and loans company’s stock valued at $4,542,000 after buying an additional 39,310 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Dime Community Bancshares by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 12,700 shares of the savings and loans company’s stock valued at $258,000 after buying an additional 200 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Dime Community Bancshares during the fourth quarter valued at $8,333,000. 67.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Dime Community Bancshares, Inc. (NASDAQ DCOM) traded up 2.46% during trading on Friday, hitting $20.85. 191,026 shares of the stock traded hands. The stock has a 50 day moving average price of $20.11 and a 200-day moving average price of $20.34. Dime Community Bancshares, Inc. has a 1-year low of $16.10 and a 1-year high of $22.48. The stock has a market cap of $784.67 million, a price-to-earnings ratio of 22.91 and a beta of 0.77.
Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $39.80 million for the quarter. Dime Community Bancshares had a net margin of 16.23% and a return on equity of 8.10%. Equities analysts forecast that Dime Community Bancshares, Inc. will post $1.26 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Thursday, August 3rd. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 60.22%.
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Several brokerages have recently weighed in on DCOM. Keefe, Bruyette & Woods set a $22.00 price objective on shares of Dime Community Bancshares and gave the company 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 company from $20.50 to $22.50 in a research report 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 report on Wednesday, July 12th.
In other news, EVP Stuart H. Lubow acquired 5,700 shares of the stock in a transaction that occurred on Monday, May 1st. The shares were acquired at an average cost of $19.50 per share, for a total transaction of $111,150.00. Following the purchase, the executive vice president now owns 5,700 shares of the company’s stock, valued at approximately $111,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Pucella sold 2,012 shares of the business’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 in the company, valued at $441,686.92. The disclosure for this sale can be found here. Insiders sold a total of 5,992 shares of company stock worth $118,674 over the last three months. 12.70% of the stock is owned by insiders.
Dime Community Bancshares Company Profile
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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