Raymond James Financial Inc. Grows Stock Holdings in Dime Community Bancshares, Inc. $DCOM

Key Points

• Raymond James Financial Inc. increased its stake in Dime Community Bancshares, Inc. by 11.1%, owning 175,293 shares worth approximately $4.89 million by the end of the last quarter.
• Dime Community Bancshares reported an earnings per share (EPS) of $0.64, exceeding analyst estimates of $0.63, along with a revenue of $109.54 million for the latest quarter.
• The company recently paid a dividend of $0.3438, resulting in an exceptionally high yield of 496.0%, although its dividend payout ratio stands at 119.05%.

Raymond James Financial Inc. boosted its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 175,293 shares of the savings and loans company's stock after acquiring an additional 17,499 shares during the quarter. Raymond James Financial Inc. owned 0.40% of Dime Community Bancshares worth $4,887,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC increased its position in shares of Dime Community Bancshares by 125.0% during the 4th quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company's stock valued at $28,000 after purchasing an additional 500 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Dime Community Bancshares in the first quarter worth approximately $37,000. GAMMA Investing LLC grew its position 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 valued at $110,000 after buying an additional 483 shares during the period. CWM LLC increased 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 valued at $168,000 after buying an additional 4,311 shares during the last quarter. Finally, ProShare Advisors LLC raised its position in Dime Community Bancshares by 45.5% in the fourth quarter. ProShare Advisors LLC now owns 10,759 shares of the savings and loans company's stock worth $331,000 after acquiring an additional 3,367 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Performance

DCOM traded down $0.36 during trading on Friday, hitting $30.63. The company's stock had a trading volume of 165,560 shares, compared to its average volume of 173,927. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. Dime Community Bancshares, Inc. has a one year low of $23.25 and a one year high of $37.60. The firm has a market cap of $1.34 billion, a PE ratio of 36.46 and a beta of 1.15. The business's 50 day simple moving average is $28.84 and its 200-day simple moving average is $27.56.

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 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. The firm had revenue of $109.54 million during the quarter, compared to analyst estimates of $107.08 million. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%.During the same period in the prior year, the business posted $0.37 EPS. As a group, sell-side analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

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

About Dime Community Bancshares

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.