Adage Capital Partners GP L.L.C. bought a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 60,111 shares of the savings and loans company's stock, valued at approximately $1,848,000. Adage Capital Partners GP L.L.C. owned approximately 0.15% of Dime Community Bancshares as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also bought and sold shares of the company. T. Rowe Price Investment Management Inc. lifted its position in shares of Dime Community Bancshares by 13.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,017,209 shares of the savings and loans company's stock valued at $61,999,000 after buying an additional 233,417 shares in the last quarter. MetLife Investment Management LLC boosted its position in shares of Dime Community Bancshares by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 21,499 shares of the savings and loans company's stock worth $661,000 after purchasing an additional 1,387 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Dime Community Bancshares by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,299,379 shares of the savings and loans company's stock worth $70,671,000 after purchasing an additional 71,273 shares in the last quarter. First Trust Advisors LP raised its position in shares of Dime Community Bancshares by 7.5% during the 4th quarter. First Trust Advisors LP now owns 28,196 shares of the savings and loans company's stock valued at $867,000 after purchasing an additional 1,971 shares during the period. Finally, Banc Funds Co. LLC lifted its stake in shares of Dime Community Bancshares by 28.8% during the 4th quarter. Banc Funds Co. LLC now owns 97,948 shares of the savings and loans company's stock valued at $3,011,000 after buying an additional 21,875 shares in the last quarter. Institutional investors own 75.27% of the company's stock.
Dime Community Bancshares Stock Performance
Shares of Dime Community Bancshares stock traded up $0.03 during midday trading on Monday, hitting $26.68. The company had a trading volume of 26,155 shares, compared to its average volume of 262,703. The company has a fifty day simple moving average of $27.01 and a 200 day simple moving average of $30.48. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 45.21 and a beta of 1.09. 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 $17.49 and a 12-month high of $37.60.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. The business had revenue of $103.83 million during the quarter, compared to the consensus estimate of $105.83 million. During the same period in the previous year, the firm posted $0.38 earnings per share. As a group, analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.
Dime Community Bancshares Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.3438 dividend. This is a positive change from Dime Community Bancshares's previous quarterly dividend of $0.25. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.15%. Dime Community Bancshares's dividend payout ratio is currently 158.73%.
Insider Transactions at Dime Community Bancshares
In other news, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction 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 sale, the director now owns 37,147 shares in the company, valued at $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction, the director now owns 41,185 shares of the company's stock, valued at $1,287,031.25. The trade was a 6.79 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have commented on DCOM. Keefe, Bruyette & Woods decreased their price target on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Stephens dropped their target price on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler raised Dime Community Bancshares from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Dime Community Bancshares presently has an average rating of "Buy" and a consensus target price of $36.88.
Check Out Our Latest Research Report on DCOM
About Dime Community Bancshares
(
Free Report)
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.
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