Hotchkis & Wiley Capital Management LLC Sells 183,840 Shares of Dime Community Bancshares, Inc. $DCOM

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its ownership of Dime Community Bancshares by 48.1%, selling 183,840 shares in the first quarter, leaving them with $5.5 million worth of shares.
• Major institutional investors have increased their stakes, with Wellington Management acquiring a new position valued at $39 million and T. Rowe Price increasing their stake by 16.9% to hold shares worth approximately $65.7 million.
• Dime Community Bancshares reported a quarterly EPS of $0.64, exceeding expectations and marking a significant increase from the previous year, alongside a strong dividend yield of 496%.

Hotchkis & Wiley Capital Management LLC decreased its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 48.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198,150 shares of the savings and loans company's stock after selling 183,840 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.45% of Dime Community Bancshares worth $5,524,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Dime Community Bancshares by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 2,754,416 shares of the savings and loans company's stock worth $76,793,000 after purchasing an additional 14,802 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of Dime Community Bancshares by 16.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,357,255 shares of the savings and loans company's stock valued at $65,721,000 after acquiring an additional 340,046 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $70,671,000 after acquiring an additional 71,273 shares in the last quarter. Basswood Capital Management L.L.C. increased its stake in shares of 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 valued at $63,454,000 after acquiring an additional 30,202 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Dime Community Bancshares by 25.3% in the 1st quarter. Wellington Management Group LLP now owns 1,592,656 shares of the savings and loans company's stock valued at $44,403,000 after acquiring an additional 321,353 shares in the last quarter. Institutional investors own 75.27% of the company's stock.

Dime Community Bancshares Trading Up 0.0%

Shares of NASDAQ:DCOM traded up $0.01 during mid-day trading on Friday, hitting $30.76. The company had a trading volume of 113,092 shares, compared to its average volume of 275,368. The firm has a fifty day moving average price of $28.46 and a 200 day moving average price of $27.63. The company has a market capitalization of $1.35 billion, a PE ratio of 36.62 and a beta of 1.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 1.02. Dime Community Bancshares, Inc. has a one year low of $23.25 and a one year high of $37.60.

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 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 analyst estimates 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 in the previous year, the business posted $0.37 EPS. As a group, research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a dividend, which was paid on Friday, August 15th. Investors of record on Monday, August 11th were given a $0.3438 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a yield of 496.0%. Dime Community Bancshares's dividend payout ratio (DPR) is presently 119.05%.

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.