Wellington Management Group LLP Decreases Stake in Dime Community Bancshares, Inc. $DCOM

Key Points

• Wellington Management reduced its Dime Community Bancshares stake by 21.5% in the second quarter, selling 933,522 shares. It still held 3.41 million shares, representing 7.72% of the company and approximately $138.5 million in value.
• Dime Community Bancshares reported quarterly EPS of $0.79, matching analyst expectations, while revenue of $128.4 million exceeded forecasts. Analysts expect full-year EPS of $3.06.
• The company maintains a quarterly dividend of $0.25 per share, equivalent to a 2.5% annualized yield. Institutional investors own 75.27% of the stock, while insiders have sold more than 211,000 shares over the past 90 days.

Wellington Management Group LLP reduced its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 21.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,407,671 shares of the savings and loans company's stock after selling 933,522 shares during the quarter. Wellington Management Group LLP owned 7.72% of Dime Community Bancshares worth $138,522,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in shares of Dime Community Bancshares during the fourth quarter worth $28,000. Larson Financial Group LLC boosted its holdings in shares of Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock valued at $30,000 after acquiring an additional 884 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company's stock valued at $156,000 after purchasing an additional 4,446 shares during the period. iSAM Funds UK Ltd bought a new position in shares of Dime Community Bancshares during the 3rd quarter valued at about $169,000. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Dime Community Bancshares in the 1st quarter worth $202,000. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Stock Down 0.1%

DCOM stock opened at $40.43 on Tuesday. The company's 50 day simple moving average is $40.36 and its 200-day simple moving average is $37.19. The firm has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.97. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.The business had revenue of $128.41 million during the quarter, compared to analysts' expectations of $123.46 million. During the same quarter last year, the firm posted $0.64 earnings per share. As a group, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares's payout ratio is currently 36.10%.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 53,000 shares of the firm's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the transaction, the director directly owned 6,440 shares in the company, valued at $262,494.40. This trade represents a 89.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 211,748 shares of company stock worth $8,546,780 over the last 90 days. Corporate insiders own 7.40% of the company's stock.

Dime Community Bancshares Company Profile

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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