Public Sector Pension Investment Board Increases Stock Holdings in Dime Community Bancshares, Inc. $DCOM

Key Points

• The Public Sector Pension Investment Board has increased its holdings in Dime Community Bancshares by 27.2%, acquiring an additional 26,629 shares during the 1st quarter, bringing its total ownership to approximately 0.29% of the company valued at $3.47 million.
• Recent analyst ratings show a shift with Wall Street Zen upgrading the stock from a "sell" to a "hold," while the consensus rating is now a "Buy" with an average target price of $36.88.
• Dime Community Bancshares recently announced a dividend yield of 496.0%, with a payout ratio of 119.05%, reflecting strong returns for its investors.

Public Sector Pension Investment Board boosted its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 27.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,524 shares of the savings and loans company's stock after purchasing an additional 26,629 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.29% of Dime Community Bancshares worth $3,472,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. CoreCap Advisors LLC increased its holdings in shares of Dime Community Bancshares by 125.0% in the 4th quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company's stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Dime Community Bancshares by 861.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company's stock valued at $35,000 after acquiring an additional 1,017 shares during the last quarter. Hughes Financial Services LLC purchased a new position in shares of Dime Community Bancshares in the 1st quarter valued at about $37,000. GAMMA Investing LLC increased its holdings in shares of Dime Community Bancshares by 14.0% in the 1st quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock valued at $110,000 after acquiring an additional 483 shares during the last quarter. Finally, CWM LLC increased its holdings 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 during the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Dime Community Bancshares Stock Performance

Dime Community Bancshares stock traded up $1.74 during mid-day trading on Friday, reaching $30.11. 355,772 shares of the company were exchanged, compared to its average volume of 214,739. Dime Community Bancshares, Inc. has a twelve month low of $23.25 and a twelve month high of $37.60. The firm's 50-day simple moving average is $28.01 and its two-hundred day simple moving average is $27.64. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.32 billion, a PE ratio of 35.85 and a beta of 1.16.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The savings and loans company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $109.54 million during the quarter, compared to analysts' expectations of $107.08 million. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%.During the same period last year, the firm earned $0.37 EPS. Equities 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 firm also recently declared a dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were issued 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 (DPR) is currently 119.05%.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 2,000 shares of Dime Community Bancshares stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total transaction of $51,160.00. Following the completion of the transaction, the director directly owned 35,392 shares of the company's stock, valued at approximately $905,327.36. The trade was a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 7.10% of the stock is owned by corporate insiders.

About Dime Community Bancshares

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.