Louisiana State Employees Retirement System acquired a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM – Free Report) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 18,100 shares of the savings and loans company’s stock, valued at approximately $612,000.
A number of other large investors have also recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares during the fourth quarter valued at about $28,000. Larson Financial Group LLC raised its holdings in shares of Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after acquiring an additional 884 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after acquiring an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd bought a new position in Dime Community Bancshares in the 3rd quarter valued at about $169,000. Finally, Amundi bought a new position in Dime Community Bancshares in the 3rd quarter valued at about $202,000. 75.27% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the completion of the sale, the director owned 6,785 shares in the company, valued at $264,750.70. This trade represents a 82.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the sale, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 78,803 shares of company stock valued at $3,101,749 over the last three months. Insiders own 7.40% of the company’s stock.
Dime Community Bancshares Trading Down 1.3%
Dime Community Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, July 17th. Dime Community Bancshares’s payout ratio is presently 37.59%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Piper Sandler assumed coverage on Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective for the company. DA Davidson raised their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One investment 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $39.75.
View Our Latest Stock Analysis on DCOM
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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