PNC Financial Services Group Inc. Acquires 1,220 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

PNC Financial Services Group Inc. grew its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 11.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,860 shares of the savings and loans company’s stock after acquiring an additional 1,220 shares during the period. PNC Financial Services Group Inc.’s holdings in Dime Community Bancshares were worth $331,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DCOM. GAMMA Investing LLC raised its stake 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 worth $110,000 after buying an additional 483 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in Dime Community Bancshares by 14.5% in the first quarter. Illinois Municipal Retirement Fund now owns 22,391 shares of the savings and loans company’s stock worth $624,000 after purchasing an additional 2,840 shares during the period. Northern Trust Corp grew its holdings in shares of Dime Community Bancshares by 19.5% during the fourth quarter. Northern Trust Corp now owns 428,321 shares of the savings and loans company’s stock valued at $13,164,000 after buying an additional 69,856 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Dime Community Bancshares during the fourth quarter valued at about $480,000. Finally, Alliancebernstein L.P. lifted its position in shares of Dime Community Bancshares by 50.1% during the fourth quarter. Alliancebernstein L.P. now owns 56,472 shares of the savings and loans company’s stock valued at $1,736,000 after purchasing an additional 18,852 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Raymond A. Nielsen sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $25.58, for a total value of $51,160.00. Following the sale, the director owned 35,392 shares of the company’s stock, valued at $905,327.36. The trade was a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.10% of the stock is currently owned by insiders.

Dime Community Bancshares Stock Down 2.8%

DCOM opened at $28.64 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 34.10 and a beta of 1.16. Dime Community Bancshares, Inc. has a twelve month low of $22.87 and a twelve month high of $37.60. The company’s 50-day moving average price is $27.84 and its two-hundred day moving average price is $27.80.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, July 24th. The savings and loans company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The firm had revenue of $109.54 million for the quarter, compared to analysts’ expectations of $107.08 million. Dime Community Bancshares had a net margin of 6.74% and a return on equity of 6.90%. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, equities analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently announced a dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 11th were paid a $0.3438 dividend. This represents a yield of 496.0%. The ex-dividend date was Friday, August 8th. Dime Community Bancshares’s payout ratio is presently 119.05%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on DCOM shares. Wall Street Zen raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, April 24th. Stephens lowered their price objective on shares of Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Dime Community Bancshares presently has an average rating of “Buy” and a consensus target price of $36.88.

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.