Vanguard Group Inc. lowered its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM – Free Report) by 0.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,921,319 shares of the savings and loans company’s stock after selling 15,135 shares during the quarter. Vanguard Group Inc. owned about 0.07% of Dime Community Bancshares worth $87,902,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Dime Community Bancshares by 2.2% during the third quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company’s stock worth $561,000 after buying an additional 400 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Dime Community Bancshares by 3.6% during the third quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock worth $347,000 after buying an additional 406 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Dime Community Bancshares by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock worth $878,000 after buying an additional 449 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of Dime Community Bancshares by 3.3% during the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock worth $699,000 after buying an additional 819 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.
Insider Transactions at Dime Community Bancshares
In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director owned 35,607 shares in the company, valued at $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stuart H. Lubow sold 19,550 shares of Dime Community Bancshares stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $35.07, for a total value of $685,618.50. Following the completion of the transaction, the chief executive officer owned 202,648 shares in the company, valued at approximately $7,106,865.36. This represents a 8.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 7.40% of the company’s stock.
Dime Community Bancshares Stock Performance
Dime Community Bancshares Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares’s payout ratio is currently 37.59%.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on DCOM. Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Stephens boosted their price target on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Finally, DA Davidson boosted their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.
Get Our Latest Research Report on Dime Community Bancshares
About Dime Community Bancshares
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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