Intech Investment Management LLC Acquires New Shares in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Intech Investment Management LLC acquired a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,603 shares of the savings and loans company’s stock, valued at approximately $478,000.

A number of other hedge funds have also modified their holdings of DCOM. Quest Partners LLC raised its holdings in shares of Dime Community Bancshares by 9.4% in the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock valued at $155,000 after purchasing an additional 465 shares during the period. Stieven Capital Advisors L.P. lifted its holdings in shares of Dime Community Bancshares by 11.6% during the 3rd quarter. Stieven Capital Advisors L.P. now owns 332,960 shares of the savings and loans company’s stock worth $9,589,000 after acquiring an additional 34,615 shares during the period. Empowered Funds LLC raised its holdings in shares of Dime Community Bancshares by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 74,108 shares of the savings and loans company’s stock worth $2,134,000 after buying an additional 3,752 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Dime Community Bancshares by 47.4% in the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after purchasing an additional 162,004 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of Dime Community Bancshares by 15.8% in the 3rd quarter. Victory Capital Management Inc. now owns 53,276 shares of the savings and loans company’s stock valued at $1,534,000 after acquiring an additional 7,276 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on DCOM. Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $30.00 to $39.00 in a report on Monday, November 18th. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Raymond James increased their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $31.40.

Dime Community Bancshares Stock Down 0.1 %

Dime Community Bancshares stock opened at $35.88 on Monday. The company has a market capitalization of $1.40 billion, a P/E ratio of 23.92 and a beta of 0.99. The firm has a 50 day moving average price of $31.26 and a 200-day moving average price of $25.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Dime Community Bancshares, Inc. has a twelve month low of $17.29 and a twelve month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. As a group, equities analysts predict that Dime Community Bancshares, Inc. will post 1.49 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid 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 2.79%. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were bought at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the transaction, the director now directly owns 1,044,221 shares in the company, valued at $33,415,072. This trade represents a 2.86 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.10% of the company’s stock.

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.