TD Asset Management Inc Boosts Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Key Points

• TD Asset Management Inc increased its position in Dime Community Bancshares by 19.1% during the first quarter, holding approximately $2.2 million worth of shares.
• Dime Community Bancshares has announced a dividend of $0.3438 per share, with a dividend yield of 496.0%, to be paid on August 15th.
• Analysts currently have a consensus rating of "Buy" on Dime Community Bancshares, with an average price target of $36.88.

TD Asset Management Inc grew its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 19.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 78,738 shares of the savings and loans company's stock after acquiring an additional 12,652 shares during the period. TD Asset Management Inc owned about 0.18% of Dime Community Bancshares worth $2,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Dime Community Bancshares by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company's stock worth $84,202,000 after buying an additional 256,466 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Dime Community Bancshares by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,299,379 shares of the savings and loans company's stock worth $70,671,000 after buying an additional 71,273 shares during the period. Basswood Capital Management L.L.C. boosted its holdings in Dime Community Bancshares by 1.5% in the 4th quarter. Basswood Capital Management L.L.C. now owns 2,064,565 shares of the savings and loans company's stock worth $63,454,000 after buying an additional 30,202 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Dime Community Bancshares by 13.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,017,209 shares of the savings and loans company's stock worth $61,999,000 after buying an additional 233,417 shares during the period. Finally, Wellington Management Group LLP bought a new position in Dime Community Bancshares in the 4th quarter worth approximately $39,073,000. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Trading Up 1.1%

NASDAQ:DCOM traded up $0.29 during trading hours on Monday, reaching $27.42. The company's stock had a trading volume of 144,746 shares, compared to its average volume of 286,596. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.64 and a beta of 1.16. The firm has a 50-day simple moving average of $27.37 and a 200-day simple moving average of $27.98. Dime Community Bancshares, Inc. has a 1 year low of $21.53 and a 1 year high of $37.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Thursday, July 24th. The savings and loans company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. The company had revenue of $109.54 million for 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 quarter last year, the company earned $0.37 EPS. Research analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently announced a dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 11th will be issued a dividend of $0.3438 per share. This represents a dividend yield of 496.0%. The ex-dividend date is Friday, August 8th. Dime Community Bancshares's dividend payout ratio is currently 119.05%.

Analyst Ratings Changes

Several brokerages have commented on DCOM. Stephens cut their price target on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has an average rating of "Buy" and a consensus price target of $36.88.

Insider Buying and Selling 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 transaction of $51,160.00. Following the completion of the sale, the director directly owned 35,392 shares in the company, valued at approximately $905,327.36. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company's stock.

Dime Community Bancshares Company 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.