Bank of New York Mellon Corp Sells 7,680 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Bank of New York Mellon Corp trimmed its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 413,712 shares of the savings and loans company’s stock after selling 7,680 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Dime Community Bancshares worth $11,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in Dime Community Bancshares in the fourth quarter valued at about $39,073,000. Penn Capital Management Company LLC purchased a new stake in shares of Dime Community Bancshares during the fourth quarter worth about $10,068,000. Vanguard Group Inc. grew its stake in shares of Dime Community Bancshares by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company’s stock worth $84,202,000 after acquiring an additional 256,466 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Dime Community Bancshares by 13.1% during the fourth 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 acquiring an additional 233,417 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Dime Community Bancshares by 37.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 661,608 shares of the savings and loans company’s stock worth $20,335,000 after acquiring an additional 180,664 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Trading Down 0.2%

NASDAQ:DCOM opened at $28.80 on Monday. The stock’s 50 day moving average price is $27.04 and its 200 day moving average price is $28.17. The company has a market capitalization of $1.26 billion, a PE ratio of 45.72 and a beta of 1.07. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.60. Dime Community Bancshares, Inc. has a 52-week low of $21.53 and a 52-week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $103.83 million during the quarter, compared to analysts’ expectations of $105.83 million. Dime Community Bancshares had a return on equity of 6.05% and a net margin of 5.08%. During the same period last year, the firm earned $0.38 EPS. On average, research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 24th. Shareholders of record on Thursday, July 17th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Thursday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 158.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stephens dropped their price target 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. Wall Street Zen raised Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Dime Community Bancshares has a consensus rating of “Buy” and a consensus price target of $36.88.

Insider Transactions at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 2,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $25.58, for a total value of $51,160.00. Following the completion of the sale, the director owned 35,392 shares of the company’s stock, valued at $905,327.36. This represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.