Raymond James Financial Inc. Grows 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. lifted its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 11.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,293 shares of the savings and loans company's stock after purchasing 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 quarter.

Other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC increased its stake 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 acquiring an additional 500 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Dime Community Bancshares during the 1st quarter valued at approximately $37,000. GAMMA Investing LLC lifted its position in Dime Community Bancshares by 14.0% in 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 during the last quarter. CWM LLC lifted its position in Dime Community Bancshares by 250.1% in 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 during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Dime Community Bancshares by 45.5% during the fourth quarter. ProShare Advisors LLC now owns 10,759 shares of the savings and loans company's stock worth $331,000 after buying an additional 3,367 shares during the period. Hedge funds and other institutional investors own 75.27% of the company's stock.

Insider Buying and Selling

In related news, Director Raymond A. Nielsen sold 1,000 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $30.92, for a total transaction of $30,920.00. Following the completion of the transaction, the director owned 38,185 shares of the company's stock, valued at $1,180,680.20. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 7.10% of the company's stock.

Dime Community Bancshares Trading Up 0.6%

NASDAQ:DCOM traded up $0.17 during mid-day trading on Wednesday, hitting $30.56. 153,158 shares of the stock traded hands, compared to its average volume of 174,811. 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 52 week low of $23.25 and a 52 week high of $37.60. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 36.38 and a beta of 1.15. The firm's 50 day moving average is $29.02 and its two-hundred day moving average is $27.60.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last released 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 company had revenue of $109.54 million during the quarter, compared to analysts' expectations 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 in the previous year, the company earned $0.37 EPS. On average, equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current 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 paid a dividend of $0.3438 per share. This represents a dividend yield of 496.0%. The ex-dividend date was Friday, August 8th. Dime Community Bancshares's payout ratio is presently 119.05%.

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.