Dime Community Bancshares, Inc. $DCOM Shares Sold by Boston Partners

Key Points

• Boston Partners has reduced its stake in Dime Community Bancshares by 43%, now holding 605,443 shares valued at approximately $16.63 million.
• The company recently reported $0.64 earnings per share for the latest quarter, exceeding expectations, with revenues reaching $109.54 million, higher than the predicted $107.08 million.
• Dime Community Bancshares announced a dividend of $0.3438 per share, yielding 496% with a dividend payout ratio of 119.05%.

Boston Partners lowered its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 43.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 605,443 shares of the savings and loans company's stock after selling 456,850 shares during the quarter. Boston Partners owned 1.38% of Dime Community Bancshares worth $16,631,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. CoreCap Advisors LLC boosted its holdings in Dime Community Bancshares by 125.0% during the fourth quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company's stock worth $28,000 after buying an additional 500 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in Dime Community Bancshares by 861.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company's stock worth $35,000 after buying an additional 1,017 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Dime Community Bancshares during the first quarter worth $37,000. GAMMA Investing LLC boosted its holdings in Dime Community Bancshares by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock worth $110,000 after buying an additional 483 shares in the last quarter. Finally, CWM LLC boosted its holdings in Dime Community Bancshares by 250.1% during the first quarter. CWM LLC now owns 6,035 shares of the savings and loans company's stock worth $168,000 after buying an additional 4,311 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DCOM. Stephens lowered their price target on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen raised shares of Dime Community Bancshares from a "sell" rating to a "hold" rating in a report on Thursday, April 24th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $36.88.

Dime Community Bancshares Price Performance

DCOM traded down $0.12 during midday trading on Thursday, hitting $28.49. 8,958 shares of the company traded hands, compared to its average volume of 277,994. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 33.92 and a beta of 1.16. Dime Community Bancshares, Inc. has a 52-week low of $22.96 and a 52-week high of $37.60. The business has a 50 day simple moving average of $27.91 and a two-hundred day simple moving average of $27.75.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $109.54 million for the quarter, compared to the consensus estimate of $107.08 million. Dime Community Bancshares had a net margin of 6.74% and a return on equity of 6.90%. During the same period last year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 11th were issued a dividend of $0.3438 per share. This represents a yield of 496.0%. The ex-dividend date of this dividend was Friday, August 8th. Dime Community Bancshares's dividend payout ratio (DPR) is presently 119.05%.

Insider Activity at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $25.58, for a total value of $51,160.00. Following the completion of the sale, the director directly owned 35,392 shares in the company, valued at $905,327.36. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 7.10% of the stock is owned by company insiders.

Dime Community Bancshares 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.