Proficio Capital Partners LLC Takes Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Proficio Capital Partners LLC purchased a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,172 shares of the savings and loans company’s stock, valued at approximately $1,635,000. Proficio Capital Partners LLC owned about 0.14% of Dime Community Bancshares as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust increased its holdings in shares of Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after acquiring an additional 654 shares during the period. KBC Group NV raised its stake in shares of Dime Community Bancshares by 50.8% during the fourth 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 during the last quarter. USA Financial Formulas acquired a new stake in Dime Community Bancshares in the fourth quarter valued at about $92,000. GAMMA Investing LLC raised its stake in shares of Dime Community Bancshares by 17.4% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after buying an additional 512 shares in the last quarter. Finally, Quest Partners LLC lifted 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 buying an additional 465 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Basswood Capital Management, L acquired 1,043 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost 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. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Raymond A. Nielsen sold 3,000 shares of Dime Community Bancshares stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.25, for a total value of $93,750.00. Following the completion of the transaction, the director now directly owns 41,185 shares in the company, valued at $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 1,729 shares of company stock valued at $48,021. Insiders own 9.10% of the company’s stock.

Dime Community Bancshares Price Performance

DCOM stock opened at $28.37 on Thursday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 48.09 and a beta of 1.04. 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 52-week low of $17.49 and a 52-week high of $37.60. The stock’s fifty day simple moving average is $30.59 and its 200-day simple moving average is $30.82.

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 research analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DCOM. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the company from $36.00 to $38.00 in a report on Thursday, January 23rd. Keefe, Bruyette & Woods dropped their price target on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

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.