Dime Community Bancshares, Inc. (NASDAQ:DCOM) Sees Significant Decrease in Short Interest

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Dime Community Bancshares, Inc. (NASDAQ:DCOM) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 544,700 shares, a decrease of 19.1% from the September 30th total of 673,600 shares. Based on an average daily volume of 123,100 shares, the short-interest ratio is currently 4.4 days. Approximately 1.8% of the company’s shares are sold short.

Shares of DCOM stock traded up $0.07 on Friday, reaching $19.74. 1,127,200 shares of the company were exchanged, compared to its average volume of 188,265. The company has a debt-to-equity ratio of 2.10, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $701.36 million, a price-to-earnings ratio of 14.62 and a beta of 0.84. Dime Community Bancshares has a one year low of $15.94 and a one year high of $22.50. The company has a 50-day moving average of $20.71 and a 200-day moving average of $19.76.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.22). The firm had revenue of $39.56 million during the quarter. Dime Community Bancshares had a net margin of 16.92% and a return on equity of 6.84%. As a group, sell-side analysts predict that Dime Community Bancshares will post 1.16 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were paid a $0.14 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $0.56 annualized dividend and a yield of 2.84%. Dime Community Bancshares’s dividend payout ratio (DPR) is 41.48%.

A number of analysts have commented on DCOM shares. Stephens started coverage on shares of Dime Community Bancshares in a research report on Monday, October 28th. They set an “equal weight” rating and a $23.00 price target on the stock. TheStreet cut shares of Dime Community Bancshares from a “b” rating to a “c+” rating in a research report on Thursday, October 31st. ValuEngine raised shares of Dime Community Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. BidaskClub cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th. Finally, Zacks Investment Research raised shares of Dime Community Bancshares from a “hold” rating to a “strong-buy” rating and set a $23.00 price target on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $22.00.

In related news, EVP Stuart H. Lubow acquired 6,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was acquired at an average cost of $19.22 per share, for a total transaction of $124,930.00. Following the completion of the acquisition, the executive vice president now directly owns 18,980 shares of the company’s stock, valued at approximately $364,795.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 8,000 shares of company stock valued at $153,295 over the last 90 days. 7.80% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of DCOM. 6 Meridian increased its stake in Dime Community Bancshares by 2.1% in the 2nd quarter. 6 Meridian now owns 27,133 shares of the savings and loans company’s stock valued at $515,000 after buying an additional 568 shares during the last quarter. HGK Asset Management Inc. increased its stake in shares of Dime Community Bancshares by 19.5% during the 2nd quarter. HGK Asset Management Inc. now owns 15,019 shares of the savings and loans company’s stock worth $285,000 after purchasing an additional 2,449 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter worth approximately $342,000. Aperio Group LLC increased its stake in shares of Dime Community Bancshares by 13.4% during the 2nd quarter. Aperio Group LLC now owns 28,453 shares of the savings and loans company’s stock worth $540,000 after purchasing an additional 3,352 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter worth approximately $756,000. Hedge funds and other institutional investors own 71.52% of the company’s stock.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.

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