BlackRock Inc. Acquires New Holdings in Dime Community Bancshares, Inc. $DCOM

Key Points

• BlackRock acquired 6.2 million shares of Dime Community Bancshares in the second quarter, worth approximately $251.9 million and representing a 14.04% stake. Institutional investors and hedge funds collectively own 75.27% of the company.
• Dime Community Bancshares reported quarterly EPS of $0.79, matching estimates, while revenue of $128.41 million exceeded the $123.46 million consensus forecast. Analysts expect full-year EPS of approximately $3.06.
• The company maintains a quarterly dividend of $0.25, equivalent to a $1.00 annualized payout and a 2.5% yield. Meanwhile, insiders have sold 211,748 shares worth $8.55 million over the past 90 days.

BlackRock Inc. bought a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,197,711 shares of the savings and loans company's stock, valued at approximately $251,937,000. BlackRock Inc. owned approximately 14.04% of Dime Community Bancshares as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC boosted its holdings in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock worth $30,000 after purchasing an additional 884 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company's stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Dime Community Bancshares in the third quarter valued at $169,000. Finally, Maryland State Retirement & Pension System bought a new position in Dime Community Bancshares in the first quarter valued at $202,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Up 0.1%

Shares of DCOM stock opened at $40.43 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $41.97. The firm's fifty day moving average price is $40.27 and its two-hundred day moving average price is $37.10. The firm has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting 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 net margin of 15.15% and a return on equity of 9.12%. During the same period in the prior year, the business posted $0.64 EPS. On average, equities analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $40.76, for a total value of $2,160,280.00. Following the completion of the transaction, the director owned 6,440 shares of the company's stock, valued at $262,494.40. This trade represents a 89.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders have sold 211,748 shares of company stock worth $8,546,780 in the last 90 days. 7.40% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding DCOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report).

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