Wellington Management Group LLP Acquires New Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Wellington Management Group LLP acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,271,303 shares of the savings and loans company's stock, valued at approximately $39,073,000. Wellington Management Group LLP owned approximately 2.91% of Dime Community Bancshares as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp boosted its stake in shares of Dime Community Bancshares by 19.5% during the fourth quarter. Northern Trust Corp now owns 428,321 shares of the savings and loans company's stock valued at $13,164,000 after purchasing an additional 69,856 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Dime Community Bancshares during the fourth quarter valued at approximately $480,000. Barclays PLC boosted its stake in shares of Dime Community Bancshares by 91.0% during the third quarter. Barclays PLC now owns 75,732 shares of the savings and loans company's stock valued at $2,181,000 after purchasing an additional 36,076 shares in the last quarter. Swiss National Bank boosted its stake in shares of Dime Community Bancshares by 18.4% during the fourth quarter. Swiss National Bank now owns 81,602 shares of the savings and loans company's stock valued at $2,508,000 after purchasing an additional 12,700 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Dime Community Bancshares by 50.1% during the fourth quarter. Alliancebernstein L.P. now owns 56,472 shares of the savings and loans company's stock valued at $1,736,000 after purchasing an additional 18,852 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

Insider Activity

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 2,000 shares of Dime Community Bancshares stock in a transaction 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 now owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DCOM shares. Wall Street Zen upgraded shares of Dime Community Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Stephens decreased 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 research 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. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $36.88.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM traded up $0.64 on Tuesday, hitting $26.07. 261,732 shares of the company were exchanged, compared to its average volume of 268,485. Dime Community Bancshares, Inc. has a 1-year low of $17.49 and a 1-year high of $37.60. The stock's 50 day moving average price is $26.02 and its 200 day moving average price is $29.71. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $1.14 billion, a P/E ratio of 44.19 and a beta of 1.09.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. The business had revenue of $103.83 million during the quarter, compared to the consensus estimate of $105.83 million. During the same period in the previous year, the firm posted $0.38 earnings per share. Sell-side analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.3438 per share. This represents a $1.38 annualized dividend and a dividend yield of 5.27%. This is a positive change from Dime Community Bancshares's previous quarterly dividend of $0.25. Dime Community Bancshares's payout ratio is 158.73%.

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.