Charles Schwab Investment Management Inc. Boosts Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Charles Schwab Investment Management Inc. boosted its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 10.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 350,833 shares of the savings and loans company’s stock after buying an additional 34,222 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.90% of Dime Community Bancshares worth $10,783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DCOM. Stieven Capital Advisors L.P. raised its holdings 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 valued at $19,060,000 after buying an additional 287,195 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock valued at $13,851,000 after purchasing an additional 263,225 shares during the period. New York State Common Retirement Fund raised its stake in shares of 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 purchasing an additional 225,227 shares during the period. Systematic Financial Management LP raised its stake in shares of Dime Community Bancshares by 15.1% during the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after purchasing an additional 143,402 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in shares of Dime Community Bancshares during the fourth quarter valued at approximately $1,854,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DCOM shares. Keefe, Bruyette & Woods dropped their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Dime Community Bancshares Stock Down 1.1 %

DCOM stock opened at $27.93 on Friday. The company has a market capitalization of $1.22 billion, a P/E ratio of 47.34 and a beta of 1.04. The firm has a 50 day simple moving average of $30.50 and a 200-day simple moving average of $30.85. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares, Inc. has a twelve month low of $17.49 and a twelve month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. On average, equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Basswood Capital Management, L sold 9,815 shares of the business’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 completion of the transaction, the director now owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. The trade was a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the transaction, the director now owns 41,185 shares of the company’s stock, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired a total of 1,729 shares of company stock valued at $48,021 over the last 90 days. 9.10% of the stock is owned by company insiders.

Dime Community Bancshares 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.