Bank of America Corp DE boosted its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 44.9% during the first quarter, Holdings Channel reports. The firm owned 79,242 shares of the savings and loans company’s stock after buying an additional 24,547 shares during the period. Bank of America Corp DE’s holdings in Dime Community Bancshares were worth $1,609,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in Dime Community Bancshares during the fourth quarter worth about $8,333,000. Hennessy Advisors Inc. purchased a new stake in Dime Community Bancshares during the first quarter worth about $5,481,000. Dimensional Fund Advisors LP increased its stake in 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 period. LSV Asset Management increased its stake 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 worth $18,438,000 after buying an additional 149,806 shares during the period. Finally, Systematic Financial Management LP increased its stake in Dime Community Bancshares by 13.5% in the first quarter. Systematic Financial Management LP now owns 605,414 shares of the savings and loans company’s stock worth $12,290,000 after buying an additional 71,854 shares during the period. 67.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Dime Community Bancshares, Inc. (NASDAQ DCOM) traded up 0.392% during midday trading on Wednesday, hitting $19.225. The stock had a trading volume of 18,280 shares. The firm has a market cap of $719.90 million, a price-to-earnings ratio of 21.034 and a beta of 0.77. The firm has a 50-day moving average price of $20.05 and a 200-day moving average price of $20.30. Dime Community Bancshares, Inc. has a 1-year low of $16.10 and a 1-year high of $22.48.
Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Thursday, July 27th. The savings and loans company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The firm 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 8.04%. On average, equities analysts anticipate that Dime Community Bancshares, Inc. will post $1.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, August 7th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend was Thursday, August 3rd. Dime Community Bancshares’s payout ratio is 60.22%.
DCOM has been the subject of a number of research reports. Piper Jaffray Companies raised Dime Community Bancshares from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $20.50 to $22.50 in a research report on Tuesday, May 9th. Barclays PLC reaffirmed an “underweight” rating and issued a $20.00 target price (up previously from $19.00) on shares of Dime Community Bancshares in a research report on Wednesday, July 12th. BidaskClub downgraded Dime Community Bancshares from a “sell” rating to a “strong sell” rating in a research report on Monday. Finally, ValuEngine raised Dime Community Bancshares from a “hold” rating to a “buy” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.50.
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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