Nuveen LLC Buys Shares of 105,016 Dime Community Bancshares, Inc. $DCOM

Key Points

• Nuveen LLC has made a significant investment in Dime Community Bancshares by purchasing 105,016 shares valued at approximately $2.93 million, representing about 0.24% of the company.
• Dime Community Bancshares announced a recent dividend of $0.3438 per share, yielding 496.0%, although its dividend payout ratio is currently high at 119.05%.
• The company reported a net income of $109.54 million and earnings per share of $0.64 for the last quarter, exceeding analysts' expectations and showing significant growth from $0.37 EPS year-over-year.

Nuveen LLC purchased a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 105,016 shares of the savings and loans company's stock, valued at approximately $2,928,000. Nuveen LLC owned about 0.24% of Dime Community Bancshares at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in Dime Community Bancshares by 12.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 395,529 shares of the savings and loans company's stock valued at $11,027,000 after buying an additional 44,696 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Dime Community Bancshares by 0.5% in the first quarter. Vanguard Group Inc. now owns 2,754,416 shares of the savings and loans company's stock worth $76,793,000 after buying an additional 14,802 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Dime Community Bancshares by 11.5% during the first quarter. PNC Financial Services Group Inc. now owns 11,860 shares of the savings and loans company's stock valued at $331,000 after purchasing an additional 1,220 shares during the last quarter. TD Asset Management Inc increased 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 valued at $2,195,000 after purchasing an additional 12,652 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Dime Community Bancshares by 1.6% during the first quarter. Royce & Associates LP now owns 435,800 shares of the savings and loans company's stock valued at $12,150,000 after purchasing an additional 6,892 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Performance

Shares of DCOM traded up $0.01 during midday trading on Friday, hitting $30.76. 113,092 shares of the stock traded hands, compared to its average volume of 186,934. The firm has a market capitalization of $1.35 billion, a PE ratio of 16.02 and a beta of 1.15. The business's 50 day moving average price is $28.46 and its two-hundred day moving average price is $27.59. Dime Community Bancshares, Inc. has a 1-year low of $23.25 and a 1-year high of $37.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share for the quarter, topping 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 business 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 company posted $0.37 earnings per share. Equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

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