The Manufacturers Life Insurance Company Cuts Holdings in Dime Community Bancshares, Inc. $DCOM

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Dime Community Bancshares, Inc. by 5.6%, now owning approximately 1.43% of the company, valued at $17.42 million.
• Institutional investors and hedge funds hold 75.27% of Dime Community Bancshares' stock, indicating strong institutional interest in the company.
• Dime Community Bancshares recently announced a dividend of $0.3438 per share with a dividend yield of 496.0%, although its payout ratio is 119.05%.

The Manufacturers Life Insurance Company reduced its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 5.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 624,862 shares of the savings and loans company's stock after selling 36,746 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.43% of Dime Community Bancshares worth $17,421,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DCOM. Wellington Management Group LLP bought a new stake in shares of Dime Community Bancshares in the 4th quarter worth approximately $39,073,000. T. Rowe Price Investment Management Inc. lifted its holdings in Dime Community Bancshares by 16.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 2,357,255 shares of the savings and loans company's stock worth $65,721,000 after buying an additional 340,046 shares during the period. Penn Capital Management Company LLC lifted its holdings in Dime Community Bancshares by 44.2% in the first quarter. Penn Capital Management Company LLC now owns 472,415 shares of the savings and loans company's stock worth $13,205,000 after buying an additional 144,856 shares during the period. GAMMA Investing LLC lifted its holdings in Dime Community Bancshares by 3,078.5% in the first quarter. GAMMA Investing LLC now owns 109,596 shares of the savings and loans company's stock worth $3,056,000 after buying an additional 106,148 shares during the period. Finally, Nuveen LLC bought a new position in shares of Dime Community Bancshares in the 1st quarter worth approximately $2,928,000. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM remained flat at $30.63 during trading on Monday. The stock had a trading volume of 12,472 shares, compared to its average volume of 270,823. Dime Community Bancshares, Inc. has a 12-month low of $23.25 and a 12-month high of $37.60. The company has a market cap of $1.34 billion, a P/E ratio of 36.38 and a beta of 1.15. The company has a 50 day moving average of $28.84 and a two-hundred day moving average of $27.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.02 and a quick ratio of 1.02.

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 the consensus estimate 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 analyst estimates of $107.08 million. During the same quarter in the prior year, the company earned $0.37 EPS. Equities 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 announced a dividend, which was paid on Friday, August 15th. Stockholders of record on Monday, August 11th were given a $0.3438 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a dividend yield of 496.0%. Dime Community Bancshares's dividend payout ratio is currently 119.05%.

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.