Empowered Funds LLC Invests $8.15 Million in Dime Community Bancshares, Inc. $DCOM

Key Points

• Empowered Funds LLC acquired 200,468 shares of Dime Community Bancshares in the second quarter, worth approximately $8.15 million and representing about 0.45% of the company.
• Institutional investors own 75.27% of DCOM, with BlackRock, Wellington Management, Dimensional Fund Advisors, Basswood Capital and State Street among major holders.
• Dime Community Bancshares reported quarterly EPS of $0.79, matching estimates, while revenue of $128.41 million exceeded expectations. The company also pays a quarterly dividend of $0.25 per share, for a 2.5% annualized yield.

Empowered Funds LLC acquired a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 200,468 shares of the savings and loans company's stock, valued at approximately $8,149,000. Empowered Funds LLC owned approximately 0.45% of Dime Community Bancshares as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in DCOM. BlackRock Inc. bought a new stake in Dime Community Bancshares in the second quarter valued at approximately $251,937,000. Wellington Management Group LLP increased its stake in shares of Dime Community Bancshares by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock valued at $128,281,000 after buying an additional 857,001 shares during the period. Dimensional Fund Advisors LP lifted its stake in Dime Community Bancshares by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company's stock worth $79,602,000 after acquiring an additional 23,035 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in Dime Community Bancshares in the second quarter worth $79,106,000. Finally, State Street Corp boosted its holdings in Dime Community Bancshares by 0.5% in the fourth quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company's stock valued at $54,885,000 after acquiring an additional 8,936 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the completion of the transaction, the director directly owned 6,440 shares in the company, valued at approximately $262,494.40. This trade represents a 89.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders have sold 211,748 shares of company stock valued at $8,546,780. 7.40% of the stock is owned by company insiders.

Dime Community Bancshares Stock Up 0.3%

Shares of Dime Community Bancshares stock opened at $40.53 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $41.97. The company has a market cap of $1.79 billion, a P/E ratio of 17.17 and a beta of 0.99. The company's fifty day simple moving average is $40.33 and its two-hundred day simple moving average is $37.16.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The firm had revenue of $128.41 million during the quarter, compared to analysts' expectations of $123.46 million. During the same period last year, the company posted $0.64 EPS. Research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares's payout ratio is 36.10%.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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