State of Alaska Department of Revenue Sells 570 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

State of Alaska Department of Revenue decreased its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,754 shares of the savings and loans company’s stock after selling 570 shares during the quarter. State of Alaska Department of Revenue’s holdings in Dime Community Bancshares were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DCOM. CoreCap Advisors LLC boosted its position in shares of Dime Community Bancshares by 125.0% during the fourth quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company’s stock worth $28,000 after acquiring an additional 500 shares during the last quarter. Sterling Capital Management LLC lifted its position in Dime Community Bancshares by 861.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company’s stock valued at $35,000 after purchasing an additional 1,017 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in 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. GAMMA Investing LLC lifted its position in Dime Community Bancshares by 14.0% during the first quarter. GAMMA Investing LLC now owns 3,931 shares of the savings and loans company’s stock valued at $110,000 after purchasing an additional 483 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in Dime Community Bancshares during the fourth quarter valued at $219,000. Institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stephens lowered their price objective on shares of Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $36.88.

Insider Activity

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

Dime Community Bancshares Trading Up 1.8%

Shares of DCOM opened at $27.29 on Friday. Dime Community Bancshares, Inc. has a twelve month low of $19.37 and a twelve month high of $37.60. The company has a market cap of $1.20 billion, a P/E ratio of 43.32 and a beta of 1.07. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.60. The company’s fifty day simple moving average is $26.31 and its 200-day simple moving average is $28.55.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results 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. Dime Community Bancshares had a net margin of 5.08% and a return on equity of 6.05%. The business 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 posted $0.38 earnings per share. As a group, analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 24th. Stockholders of record on Thursday, July 17th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Thursday, July 17th. Dime Community Bancshares’s dividend payout ratio is currently 158.73%.

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.