The Manufacturers Life Insurance Company Has $17.42 Million Stock Position 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 lowered its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 5.6% during the first quarter, according to the company in its most recent 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 period. The Manufacturers Life Insurance Company owned approximately 1.43% of Dime Community Bancshares worth $17,421,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreCap Advisors LLC grew its stake in 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 buying an additional 500 shares during the last quarter. Hughes Financial Services LLC acquired a new position in Dime Community Bancshares in the 1st quarter valued at about $37,000. GAMMA Investing LLC grew its stake 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 valued at $110,000 after buying an additional 483 shares during the last quarter. CWM LLC grew its stake in 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 buying an additional 4,311 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Dime Community Bancshares by 45.5% during the 4th quarter. ProShare Advisors LLC now owns 10,759 shares of the savings and loans company's stock worth $331,000 after purchasing an additional 3,367 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM opened at $30.55 on Wednesday. The company's 50 day moving average price is $28.60 and its two-hundred day moving average price is $27.60. Dime Community Bancshares, Inc. has a 12-month low of $23.25 and a 12-month high of $37.60. The firm has a market cap of $1.34 billion, a PE ratio of 36.37 and a beta of 1.15. 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 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 net margin of 6.74% and a return on equity of 6.90%. The firm had revenue of $109.54 million for the quarter, compared to analyst estimates of $107.08 million. During the same quarter in the prior year, the business posted $0.37 EPS. Equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

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

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