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

Key Points

• LSV Asset Management reduced its stake in Dime Community Bancshares by 6.9%, selling 30,475 shares in the first quarter, and now owns a total of 409,674 shares valued at approximately $11.42 million.
• Despite LSV's sell-off, other investors, such as GAMMA Investing LLC and Illinois Municipal Retirement Fund, increased their holdings in Dime Community Bancshares, reflecting continued interest in the stock among institutional investors.
• Dime Community Bancshares announced a dividend of $0.3438 per share with a payout yield of 496.0%, although its payout ratio currently stands at 119.05%.

LSV Asset Management decreased its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 409,674 shares of the savings and loans company's stock after selling 30,475 shares during the quarter. LSV Asset Management owned about 0.94% of Dime Community Bancshares worth $11,422,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc grew its stake in Dime Community Bancshares by 19.1% during the first quarter. TD Asset Management Inc now owns 78,738 shares of the savings and loans company's stock worth $2,195,000 after purchasing an additional 12,652 shares during the period. Royce & Associates LP boosted its holdings in shares of Dime Community Bancshares by 1.6% during the 1st quarter. Royce & Associates LP now owns 435,800 shares of the savings and loans company's stock worth $12,150,000 after buying an additional 6,892 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Dime Community Bancshares during the 1st quarter worth approximately $488,000. CWM LLC increased its stake in shares of 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 acquiring an additional 4,311 shares in the last quarter. Finally, Hughes Financial Services LLC bought a new stake in shares of Dime Community Bancshares in the 1st quarter valued at $37,000. Institutional investors and hedge funds own 75.27% of the company's stock.

Insider Transactions at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total value of $51,160.00. Following the completion of the sale, the director directly owned 35,392 shares of the company's stock, valued at $905,327.36. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 7.10% of the company's stock.

Wall Street Analyst Weigh In

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

Dime Community Bancshares Stock Up 0.9%

Shares of DCOM traded up $0.25 during trading hours on Friday, reaching $27.46. The stock had a trading volume of 78,289 shares, compared to its average volume of 283,081. The firm has a 50-day simple moving average of $27.52 and a 200 day simple moving average of $27.91. Dime Community Bancshares, Inc. has a 12 month low of $21.77 and a 12 month high of $37.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 32.68 and a beta of 1.16.

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 analysts' consensus estimates of $0.63 by $0.01. The firm had revenue of $109.54 million for 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 period last year, the firm earned $0.37 earnings per share. Equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

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 payout ratio is 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.