Bank of America Corp DE Buys 54,382 Shares of Dime Community Bancshares, Inc. $DCOM

Bank of America Corp DE boosted its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 19.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 328,789 shares of the savings and loans company's stock after purchasing an additional 54,382 shares during the quarter. Bank of America Corp DE owned 0.75% of Dime Community Bancshares worth $11,120,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Hilton Head Capital Partners LLC lifted its stake in shares of Dime Community Bancshares by 54.5% in the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company's stock valued at $49,000 after buying an additional 512 shares during the period. Illinois Municipal Retirement Fund increased its stake in Dime Community Bancshares by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company's stock valued at $718,000 after acquiring an additional 683 shares during the period. Orion Porfolio Solutions LLC raised its holdings in Dime Community Bancshares by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company's stock valued at $699,000 after acquiring an additional 819 shares in the last quarter. Larson Financial Group LLC raised its holdings in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock valued at $30,000 after acquiring an additional 884 shares in the last quarter. Finally, Gator Capital Management LLC lifted its position in shares of Dime Community Bancshares by 0.9% in the 4th quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company's stock worth $3,315,000 after acquiring an additional 955 shares during the period. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Stock Up 0.3%

DCOM opened at $40.44 on Friday. The firm's 50-day simple moving average is $40.20 and its 200-day simple moving average is $36.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.97. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 17.14 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The firm had revenue of $128.41 million during the quarter, compared to the consensus estimate of $123.46 million. During the same period last year, the firm posted $0.64 EPS. Equities research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares's dividend payout ratio is 36.10%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson raised their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Dime Community Bancshares presently has an average rating of "Moderate Buy" and an average price target of $39.75.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 7,170 shares of the company's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00. Following the transaction, the director owned 6,099 shares of the company's stock, valued at approximately $252,498.60. This represents a 54.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond A. Nielsen sold 1,800 shares of the company's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the transaction, the director directly owned 32,400 shares in the company, valued at approximately $1,352,052. This represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 211,748 shares of company stock valued at $8,546,780. 7.40% of the stock is currently owned by company insiders.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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