Dime Community Bancshares, Inc. (NASDAQ:DCOM) Shares Sold by LSV Asset Management

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 cut its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 6.9% during the first quarter, according to its most recent Form 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 period. LSV Asset Management owned 0.94% of Dime Community Bancshares worth $11,422,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DCOM. Wellington Management Group LLP purchased a new stake in Dime Community Bancshares in the fourth quarter valued at approximately $39,073,000. Penn Capital Management Company LLC purchased a new stake in Dime Community Bancshares in the fourth quarter valued at approximately $10,068,000. Vanguard Group Inc. increased its position in shares of Dime Community Bancshares by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company's stock worth $84,202,000 after acquiring an additional 256,466 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Dime Community Bancshares by 13.1% during the fourth 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 acquiring an additional 233,417 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Dime Community Bancshares by 37.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 661,608 shares of the savings and loans company's stock worth $20,335,000 after acquiring an additional 180,664 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Down 1.1%

NASDAQ:DCOM traded down $0.30 during trading hours on Thursday, hitting $27.21. The company's stock had a trading volume of 133,905 shares, compared to its average volume of 284,490. The stock has a market capitalization of $1.19 billion, a P/E ratio of 32.39 and a beta of 1.16. The stock has a fifty day moving average of $27.45 and a 200-day moving average of $27.94. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Dime Community Bancshares, Inc. has a 52-week low of $21.77 and a 52-week 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 (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $109.54 million during the quarter, compared to the consensus estimate of $107.08 million. During the same quarter in the prior year, the firm posted $0.37 earnings per share. On average, equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

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

Insider Transactions at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 2,000 shares of the company's 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 completion of the transaction, 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 SEC, which is available at this hyperlink. 7.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wall Street Zen raised Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Stephens cut their price objective on Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. One research 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. According to MarketBeat.com, Dime Community Bancshares has an average rating of "Buy" and an average price target of $36.88.

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.