Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock Position Lifted by TD Asset Management Inc

TD Asset Management Inc grew its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,738 shares of the savings and loans company’s stock after buying an additional 12,652 shares during the period. TD Asset Management Inc owned about 0.18% of Dime Community Bancshares worth $2,195,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DCOM. Vanguard Group Inc. raised its position in shares of Dime Community Bancshares by 10.3% during 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 purchasing an additional 256,466 shares during the period. Dimensional Fund Advisors LP grew its holdings in Dime Community Bancshares by 3.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,299,379 shares of the savings and loans company’s stock worth $70,671,000 after buying an additional 71,273 shares in the last quarter. Basswood Capital Management L.L.C. grew its holdings in Dime Community Bancshares by 1.5% in the 4th quarter. Basswood Capital Management L.L.C. now owns 2,064,565 shares of the savings and loans company’s stock worth $63,454,000 after buying an additional 30,202 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its holdings 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 in the last quarter. Finally, Wellington Management Group LLP bought a new position in Dime Community Bancshares in the 4th quarter worth approximately $39,073,000. Institutional investors own 75.27% of the company’s stock.

Insider Activity

In other news, Director Raymond A. Nielsen sold 2,000 shares of the firm’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 sale, the director directly owned 35,392 shares of the company’s stock, valued at approximately $905,327.36. This trade represents a 5.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DCOM shares. Stephens decreased their price objective on Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating for the company in a report 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 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $36.88.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM opened at $27.13 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.59. Dime Community Bancshares, Inc. has a 1 year low of $21.53 and a 1 year high of $37.60. The business has a fifty day simple moving average of $27.37 and a 200 day simple moving average of $28.00. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 32.30 and a beta of 1.16.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.01. The business had revenue of $109.54 million during the quarter, compared to analyst estimates of $107.08 million. Dime Community Bancshares had a return on equity of 6.90% and a net margin of 6.74%. During the same period last year, the company earned $0.37 earnings per share. As a group, sell-side analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a dividend, which will be paid on Friday, August 15th. Stockholders of record on Monday, August 11th will be given a $0.3438 dividend. This represents a dividend yield of 496.0%. The ex-dividend date of this dividend is Friday, August 8th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 119.05%.

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.