Rhumbline Advisers Has $3.47 Million Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Rhumbline Advisers grew its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 6.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 112,962 shares of the savings and loans company’s stock after acquiring an additional 6,984 shares during the period. Rhumbline Advisers owned 0.29% of Dime Community Bancshares worth $3,472,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. KBC Group NV grew its stake in Dime Community Bancshares by 50.8% in the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after purchasing an additional 909 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Dime Community Bancshares during the 4th quarter valued at about $92,000. GAMMA Investing LLC grew its stake in shares of Dime Community Bancshares by 17.4% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after buying an additional 512 shares in the last quarter. Quest Partners LLC increased its holdings in Dime Community Bancshares by 9.4% in the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after buying an additional 465 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Dime Community Bancshares by 31.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock valued at $182,000 after acquiring an additional 1,500 shares in the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Dime Community Bancshares

In other news, CTO Michael Fegan sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at $720,742.80. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the completion of the sale, the director now directly owns 37,147 shares of the company’s stock, valued at $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,815 shares of company stock worth $471,498 in the last 90 days. 9.10% of the stock is owned by company insiders.

Dime Community Bancshares Trading Up 1.6 %

NASDAQ:DCOM opened at $31.00 on Friday. The company’s 50 day moving average is $31.28 and its 200-day moving average is $30.44. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares, Inc. has a 12 month low of $17.29 and a 12 month high of $37.60. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 52.54 and a beta of 1.05.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Equities analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.23%. Dime Community Bancshares’s dividend payout ratio is presently 169.49%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $38.00 in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.40.

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.