TD Asset Management Inc Boosts Holdings 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 raised its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 approximately 0.18% of Dime Community Bancshares worth $2,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DCOM. CoreCap Advisors LLC grew its holdings in 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. Sterling Capital Management LLC grew its holdings in Dime Community Bancshares by 861.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company's stock valued at $35,000 after purchasing an additional 1,017 shares during the last quarter. Hughes Financial Services LLC bought a new position in Dime Community Bancshares during the 1st quarter valued at about $37,000. GAMMA Investing LLC boosted its position in Dime Community Bancshares by 14.0% in the 1st 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. Finally, CWM LLC boosted its position in Dime Community Bancshares by 250.1% in the 1st 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 period. 75.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DCOM shares. Stephens lowered their price objective on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen raised shares of Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $36.88.

Insider Transactions at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $25.58, for a total value of $51,160.00. Following the sale, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.10% of the company's stock.

Dime Community Bancshares Stock Down 0.1%

Shares of NASDAQ DCOM traded down $0.04 during trading hours on Wednesday, hitting $27.59. 46,487 shares of the stock were exchanged, compared to its average volume of 284,705. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.21 billion, a PE ratio of 32.91 and a beta of 1.16. The firm has a fifty day moving average price of $27.45 and a 200-day moving average price of $27.94. Dime Community Bancshares, Inc. has a 12 month low of $21.77 and a 12 month high of $37.60.

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

Dime Community Bancshares Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, August 15th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.3438 per share. The ex-dividend date is Friday, August 8th. This represents a yield of 496.0%. Dime Community Bancshares's dividend 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.