Dime Community Bancshares, Inc. (NASDAQ:DCOM) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,727 shares of the savings and loans company’s stock after selling 1,235 shares during the period. Rhumbline Advisers owned 0.26% of Dime Community Bancshares worth $3,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in DCOM. Wellington Management Group LLP acquired a new stake in Dime Community Bancshares in the 4th quarter worth about $39,073,000. Penn Capital Management Company LLC acquired a new stake in Dime Community Bancshares in the 4th quarter worth about $10,068,000. Stieven Capital Advisors L.P. boosted its stake in Dime Community Bancshares by 86.3% in the 4th quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company’s stock worth $19,060,000 after buying an additional 287,195 shares during the last quarter. Vanguard Group Inc. boosted its stake in Dime Community Bancshares by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company’s stock worth $84,202,000 after buying an additional 256,466 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its stake in Dime Community Bancshares by 13.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,017,209 shares of the savings and loans company’s stock worth $61,999,000 after buying an additional 233,417 shares during the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DCOM. Wall Street Zen raised Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Stephens reduced their price objective on Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $36.88.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $26.22 on Monday. The firm has a market capitalization of $1.15 billion, a P/E ratio of 44.44 and a beta of 1.07. Dime Community Bancshares, Inc. has a 1-year low of $17.49 and a 1-year high of $37.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The business’s 50-day simple moving average is $26.01 and its 200-day simple moving average is $29.15.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $103.83 million for the quarter, compared to analyst estimates 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 in the previous year, the company posted $0.38 EPS. Equities 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 was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were paid a $0.3438 dividend. This is a positive change from Dime Community Bancshares’s previous quarterly dividend of $0.25. This represents a $1.38 annualized dividend and a dividend yield of 5.24%. Dime Community Bancshares’s payout ratio is currently 158.73%.

Insider Activity

In related news, Director Raymond A. Nielsen sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total transaction of $51,160.00. Following the transaction, the director now directly owns 35,392 shares of the company’s stock, valued at approximately $905,327.36. The trade was a 5.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.10% of the company’s stock.

About Dime Community Bancshares

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.