New York State Teachers Retirement System Decreases Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

New York State Teachers Retirement System cut its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,376 shares of the savings and loans company’s stock after selling 730 shares during the period. New York State Teachers Retirement System owned about 0.12% of Dime Community Bancshares worth $1,393,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DCOM. Empowered Funds LLC grew its stake in shares of Dime Community Bancshares by 8.1% in the 1st quarter. Empowered Funds LLC now owns 65,316 shares of the savings and loans company’s stock valued at $1,258,000 after purchasing an additional 4,900 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Dime Community Bancshares by 7.4% in the first quarter. Illinois Municipal Retirement Fund now owns 21,052 shares of the savings and loans company’s stock worth $405,000 after acquiring an additional 1,442 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Dime Community Bancshares by 27.0% during the 1st quarter. Russell Investments Group Ltd. now owns 83,071 shares of the savings and loans company’s stock worth $1,600,000 after purchasing an additional 17,645 shares during the last quarter. Everence Capital Management Inc. purchased a new position in shares of Dime Community Bancshares during the 1st quarter worth $243,000. Finally, Entropy Technologies LP purchased a new stake in Dime Community Bancshares in the 1st quarter valued at about $299,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

DCOM has been the subject of several research reports. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Raymond James lifted their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods increased their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.50.

Dime Community Bancshares Stock Performance

DCOM opened at $33.44 on Friday. Dime Community Bancshares, Inc. has a twelve month low of $17.29 and a twelve month high of $35.18. The stock has a market cap of $1.31 billion, a PE ratio of 22.29 and a beta of 0.99. The business’s 50 day moving average is $28.64 and its 200-day moving average is $23.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The business had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the firm earned $0.56 EPS. On average, analysts predict that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

About Dime Community Bancshares

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.