T. Rowe Price Investment Management Inc. Purchases 340,046 Shares of Dime Community Bancshares, Inc. $DCOM

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Dime Community Bancshares by 16.9%, acquiring an additional 340,046 shares, bringing its total ownership to approximately $65.7 million.
• Institutional investors collectively own 75.27% of Dime Community Bancshares, with multiple entities, including GAMMA Investing LLC and Deutsche Bank AG, also increasing their stakes.
• Dime Community Bancshares recently reported earnings per share of $0.64 for the last quarter, exceeding analyst expectations and indicating a strong financial performance.

T. Rowe Price Investment Management Inc. lifted its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 16.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,357,255 shares of the savings and loans company's stock after purchasing an additional 340,046 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 5.38% of Dime Community Bancshares worth $65,721,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. 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 worth $28,000 after acquiring an additional 500 shares during the period. Sterling Capital Management LLC raised its holdings in shares of Dime Community Bancshares by 861.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company's stock worth $35,000 after acquiring an additional 1,017 shares in the last quarter. Hughes Financial Services LLC purchased a new position in Dime Community Bancshares in the first quarter valued at about $37,000. GAMMA Investing LLC increased its position in 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 worth $110,000 after purchasing an additional 483 shares during the last quarter. Finally, CWM LLC boosted its holdings in Dime Community Bancshares by 250.1% in the first quarter. CWM LLC now owns 6,035 shares of the savings and loans company's stock worth $168,000 after purchasing an additional 4,311 shares in the last quarter. Institutional investors own 75.27% of the company's stock.

Dime Community Bancshares Stock Up 0.6%

Shares of NASDAQ:DCOM traded up $0.17 on Thursday, reaching $30.77. The company had a trading volume of 34,973 shares, compared to its average volume of 275,487. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.35 billion, a P/E ratio of 36.69 and a beta of 1.16. The stock has a 50-day moving average price of $28.27 and a 200 day moving average price of $27.66. Dime Community Bancshares, Inc. has a twelve month low of $23.25 and a twelve month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.01. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%.The firm had revenue of $109.54 million during the quarter, compared to analysts' expectations of $107.08 million. During the same quarter in the prior year, the business earned $0.37 earnings per share. On average, equities analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

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