Bank of New York Mellon Corp Takes Position in Dime Community Bancshares, Inc. $DCOM

Key Points

• Bank of New York Mellon acquired 352,817 shares of Dime Community Bancshares in the second quarter, worth approximately $14.3 million and representing about 0.8% of the company.
• Institutional investors hold 75.27% of Dime Community Bancshares, with Wellington Management owning the largest reported position after increasing its stake by 25.2%.
• Dime Community reported quarterly EPS of $0.79, matching estimates, while revenue of $128.4 million exceeded expectations. The company also maintains a quarterly dividend of $0.25, equivalent to a 2.5% annual yield.

Bank of New York Mellon Corp acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 352,817 shares of the savings and loans company's stock, valued at approximately $14,342,000. Bank of New York Mellon Corp owned approximately 0.80% of Dime Community Bancshares as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Dime Community Bancshares by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock worth $128,281,000 after purchasing an additional 857,001 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Dime Community Bancshares by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company's stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. State Street Corp lifted its position in shares of Dime Community Bancshares by 0.5% in the 4th quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company's stock worth $54,885,000 after buying an additional 8,936 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Dime Community Bancshares by 19.8% in the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company's stock worth $18,027,000 after buying an additional 99,011 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Dime Community Bancshares by 9.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,598 shares of the savings and loans company's stock valued at $16,116,000 after buying an additional 44,122 shares during the period. Institutional investors and hedge funds own 75.27% of the company's stock.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 7,170 shares of the business's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $41.40, for a total transaction of $296,838.00. Following the completion of the transaction, the director directly owned 6,099 shares of the company's stock, valued at $252,498.60. The trade was a 54.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond A. Nielsen sold 1,800 shares of the company's stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.73, for a total transaction of $75,114.00. Following the completion of the transaction, the director owned 32,400 shares of the company's stock, valued at approximately $1,352,052. This trade represents a 5.26% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 211,748 shares of company stock worth $8,546,780. 7.40% of the stock is currently owned by insiders.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $39.49 on Wednesday. The company has a market cap of $1.74 billion, a PE ratio of 16.73 and a beta of 0.99. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $41.97. The firm has a 50-day simple moving average of $40.36 and a 200 day simple moving average of $37.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

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

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were given a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.5%. Dime Community Bancshares's dividend payout ratio (DPR) is currently 36.10%.

About Dime Community Bancshares

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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