Raymond James Financial Inc. Invests $4.85 Million in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Raymond James Financial Inc. acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 157,794 shares of the savings and loans company’s stock, valued at approximately $4,850,000. Raymond James Financial Inc. owned 0.40% of Dime Community Bancshares as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Parkside Financial Bank & Trust increased its position in shares of Dime Community Bancshares by 58.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 654 shares during the period. KBC Group NV grew its stake in 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 valued at $83,000 after acquiring an additional 909 shares in the last quarter. USA Financial Formulas bought a new stake in Dime Community Bancshares during the 4th quarter worth approximately $92,000. GAMMA Investing LLC lifted its stake in 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 worth $106,000 after purchasing an additional 512 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in 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. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DCOM shares. Keefe, Bruyette & Woods lowered their price objective on 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. Piper Sandler raised Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their price target for the company from $36.00 to $38.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.50.

Dime Community Bancshares Trading Down 1.4 %

NASDAQ DCOM opened at $28.26 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The stock’s 50-day simple moving average is $30.42 and its two-hundred day simple moving average is $30.93. Dime Community Bancshares, Inc. has a twelve month low of $17.49 and a twelve month high of $37.60. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 47.90 and a beta of 1.04.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share 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%. Research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Insider Activity at Dime Community Bancshares

In other news, Director Basswood Capital Management, L purchased 1,043 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 of the company’s stock, valued at $32,572.89. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the sale, the director now directly owns 41,185 shares in the company, valued at approximately $1,287,031.25. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 1,729 shares of company stock valued at $48,021. 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.