327,559 Shares in Dime Community Bancshares, Inc. (NASDAQ:DCOM) Purchased by Penn Capital Management Company LLC

Penn Capital Management Company LLC bought a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 327,559 shares of the savings and loans company's stock, valued at approximately $10,068,000. Penn Capital Management Company LLC owned 0.84% of Dime Community Bancshares at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP bought a new stake in Dime Community Bancshares during the 4th quarter valued at approximately $39,073,000. Stieven Capital Advisors L.P. grew its stake in Dime Community Bancshares by 86.3% in the fourth quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company's stock worth $19,060,000 after purchasing an additional 287,195 shares during the period. Vanguard Group Inc. raised its holdings in Dime Community Bancshares by 10.3% in the fourth quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company's stock worth $84,202,000 after purchasing an additional 256,466 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Dime Community Bancshares by 13.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,017,209 shares of the savings and loans company's stock valued at $61,999,000 after buying an additional 233,417 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Dime Community Bancshares by 433.6% during the fourth quarter. New York State Common Retirement Fund now owns 277,168 shares of the savings and loans company's stock valued at $8,519,000 after buying an additional 225,227 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 3,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the transaction, the director now directly owns 41,185 shares of the company's stock, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Basswood Capital Management, L sold 9,815 shares of the company's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total transaction of $306,228.00. Following the sale, the director now directly owns 37,147 shares in the company, valued at approximately $1,158,986.40. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 1,729 shares of company stock valued at $48,021. 7.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on DCOM shares. Stephens reduced their target price on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. StockNews.com raised Dime Community Bancshares from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Finally, Piper Sandler raised Dime Community Bancshares from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $36.00 to $38.00 in a research report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $36.88.

Dime Community Bancshares Stock Up 1.8 %

Shares of NASDAQ DCOM traded up $0.45 during midday trading on Tuesday, hitting $26.07. The stock had a trading volume of 48,387 shares, compared to its average volume of 261,879. The company has a market cap of $1.14 billion, a P/E ratio of 44.14 and a beta of 0.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The business's 50 day moving average is $27.38 and its 200-day moving average is $30.61. Dime Community Bancshares, Inc. has a 52 week low of $17.49 and a 52 week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last released 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. The company had revenue of $103.83 million during the quarter, compared to the consensus estimate of $105.83 million. Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. During the same period last year, the company earned $0.38 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a dividend of $0.3438 per share. This represents a $1.38 dividend on an annualized basis and a yield of 5.27%. This is a boost from Dime Community Bancshares's previous quarterly dividend of $0.25. Dime Community Bancshares's dividend 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.