Invesco Ltd. Grows Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Invesco Ltd. increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 61.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 310,942 shares of the savings and loans company’s stock after acquiring an additional 118,351 shares during the quarter. Invesco Ltd. owned about 0.79% of Dime Community Bancshares worth $9,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of DCOM. Parkside Financial Bank & Trust lifted its holdings in shares of Dime Community Bancshares by 58.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 654 shares during the last quarter. KBC Group NV raised its stake in Dime Community Bancshares by 50.8% during the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after buying an additional 909 shares during the last quarter. USA Financial Formulas bought a new stake in Dime Community Bancshares in the fourth quarter worth $92,000. GAMMA Investing LLC grew its stake in shares of Dime Community Bancshares by 17.4% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after acquiring an additional 512 shares during the last quarter. Finally, Savant Capital LLC bought a new position in shares of Dime Community Bancshares during the fourth quarter valued at $209,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $38.00 in a research report on Thursday, January 23rd. Stephens cut their price target on shares of Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One equities research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.88.

Dime Community Bancshares Price Performance

DCOM opened at $25.81 on Thursday. The company’s 50-day simple moving average is $27.72 and its two-hundred day simple moving average is $30.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $1.13 billion, a P/E ratio of 43.75 and a beta of 0.96. 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) last issued its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. The company had revenue of $103.83 million for the quarter, compared to the consensus estimate of $105.83 million. During the same quarter in the prior year, the firm earned $0.38 earnings per share. As a group, analysts predict 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 will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 17th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.87%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 169.49%.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 1,043 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average price of $31.23 per share, with a total value of $32,572.89. Following the completion of the acquisition, the director now owns 1,043 shares in the company, valued at $32,572.89. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the sale, the director now owns 41,185 shares of the company’s stock, valued at $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 1,729 shares of company stock valued at $48,021 over the last 90 days. Company insiders own 9.10% of the company’s stock.

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.