Quest Partners LLC Acquires Shares of 4,932 Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,932 shares of the savings and loans company’s stock, valued at approximately $101,000.

Several other institutional investors have also modified their holdings of the stock. Stieven Capital Advisors L.P. purchased a new position in Dime Community Bancshares in the 1st quarter valued at about $4,702,000. Hennessy Advisors Inc. purchased a new position in shares of Dime Community Bancshares in the fourth quarter valued at approximately $3,016,000. Salzhauer Michael boosted its stake in shares of Dime Community Bancshares by 446.0% in the first quarter. Salzhauer Michael now owns 129,915 shares of the savings and loans company’s stock worth $2,502,000 after acquiring an additional 106,121 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of Dime Community Bancshares by 21.3% during the first quarter. First Eagle Investment Management LLC now owns 364,754 shares of the savings and loans company’s stock worth $7,025,000 after purchasing an additional 64,100 shares in the last quarter. Finally, Foundry Partners LLC increased its position in Dime Community Bancshares by 31.0% during the first quarter. Foundry Partners LLC now owns 205,409 shares of the savings and loans company’s stock worth $3,956,000 after purchasing an additional 48,619 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. Keefe, Bruyette & Woods increased their price objective 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. Finally, Piper Sandler cut Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.25.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $26.01 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.02 billion, a P/E ratio of 14.61 and a beta of 1.00. The firm’s 50 day moving average price is $23.92 and its 200-day moving average price is $20.63. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The company had revenue of $171.23 million for the quarter, compared to analysts’ expectations of $82.19 million. During the same period in the prior year, the firm earned $0.68 earnings per share. As a group, equities research analysts predict that Dime Community Bancshares, Inc. will post 1.59 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Wednesday, July 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Wednesday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

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.