Kimelman & Baird LLC Takes Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Kimelman & Baird LLC bought a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,729 shares of the savings and loans company’s stock, valued at approximately $56,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Foundry Partners LLC increased its stake in Dime Community Bancshares by 31.0% in the 1st quarter. Foundry Partners LLC now owns 205,409 shares of the savings and loans company’s stock worth $3,956,000 after acquiring an additional 48,619 shares during the last quarter. Boston Partners lifted its holdings in shares of Dime Community Bancshares by 4.8% in the 1st quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock valued at $13,334,000 after acquiring an additional 31,853 shares during the last quarter. First Eagle Investment Management LLC grew its position in Dime Community Bancshares by 21.3% in the first quarter. First Eagle Investment Management LLC now owns 364,754 shares of the savings and loans company’s stock worth $7,025,000 after acquiring an additional 64,100 shares in the last quarter. Renaissance Technologies LLC increased its stake in Dime Community Bancshares by 12.8% during the second quarter. Renaissance Technologies LLC now owns 211,604 shares of the savings and loans company’s stock worth $4,317,000 after acquiring an additional 24,000 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Dime Community Bancshares by 13.9% during the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after purchasing an additional 77,284 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Stock Up 2.5 %

Shares of NASDAQ DCOM opened at $28.80 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $25.08 and a 200 day moving average price of $21.35. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 16.18 and a beta of 1.00. Dime Community Bancshares, Inc. has a 52-week low of $17.29 and a 52-week high of $30.12.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $171.23 million during the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same period in the prior year, the firm earned $0.68 earnings per share. Sell-side analysts expect that Dime Community Bancshares, Inc. will post 1.6 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Investors of record on Thursday, October 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James raised Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and boosted their target price for the company from $29.00 to $35.00 in a research report on Tuesday, September 17th. Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.25.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.