Public Sector Pension Investment Board Acquires 26,629 Shares of 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 increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 27.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of Dime Community Bancshares by 14.0% in the first quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company's stock worth $110,000 after purchasing an additional 483 shares during the last quarter. CoreCap Advisors LLC boosted its position in Dime Community Bancshares by 125.0% during 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 in the last quarter. Rafferty Asset Management LLC boosted its position in Dime Community Bancshares by 1.6% during the 4th quarter. Rafferty Asset Management LLC now owns 40,661 shares of the savings and loans company's stock valued at $1,250,000 after acquiring an additional 643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Dime Community Bancshares by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,178 shares of the savings and loans company's stock valued at $620,000 after acquiring an additional 714 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in Dime Community Bancshares by 861.9% during 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 in the last quarter. 75.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have 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 lowered their target price on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $36.88.

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $28.67 on Tuesday. Dime Community Bancshares, Inc. has a twelve month low of $22.87 and a twelve month high of $37.60. The firm has a market cap of $1.26 billion, a P/E ratio of 34.13 and a beta of 1.16. The company has a 50 day moving average of $27.87 and a 200 day moving average of $27.74. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $107.08 million. During the same period in the previous year, the business earned $0.37 EPS. As a group, research analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 2,000 shares of the business's stock in a transaction that occurred 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 directly owned 35,392 shares in the company, valued at $905,327.36. The trade was a 5.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.10% of the stock is currently owned by insiders.

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.

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