Bank of New York Mellon Corp Raises Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Bank of New York Mellon Corp grew its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 12.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 421,392 shares of the savings and loans company’s stock after acquiring an additional 46,903 shares during the period. Bank of New York Mellon Corp owned about 1.08% of Dime Community Bancshares worth $12,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DCOM. KBC Group NV lifted its holdings in Dime Community Bancshares by 50.8% in the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 909 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Dime Community Bancshares in the fourth quarter worth $92,000. GAMMA Investing LLC boosted its position in shares of Dime Community Bancshares by 17.4% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after acquiring an additional 512 shares during the last quarter. Quest Partners LLC boosted its position in shares of Dime Community Bancshares by 9.4% during the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after acquiring an additional 465 shares during the last quarter. Finally, Savant Capital LLC purchased a new position in Dime Community Bancshares during the fourth quarter valued at $209,000. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $27.55 on Thursday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 46.70 and a beta of 1.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The business has a 50 day simple moving average of $30.87 and a 200-day simple moving average of $30.73. Dime Community Bancshares, Inc. has a 1 year low of $17.49 and a 1 year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 17th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.63%. Dime Community Bancshares’s dividend payout ratio is presently 169.49%.

Analyst Upgrades and Downgrades

Several brokerages have commented on DCOM. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. Stephens upgraded 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. Finally, Keefe, Bruyette & Woods cut their price target on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 1,043 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average price of $31.23 per share, for a total transaction of $32,572.89. Following the acquisition, the director now directly owns 1,043 shares in the company, valued at $32,572.89. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond A. Nielsen sold 3,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the completion of the sale, the director now owns 41,185 shares in the company, valued at approximately $1,287,031.25. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 1,729 shares of company stock worth $48,021. Insiders own 9.10% of the company’s stock.

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.