Dime Community Bancshares, Inc. $DCOM Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 978,630 shares of the savings and loans company’s stock after buying an additional 4,827 shares during the quarter. Geode Capital Management LLC owned about 2.23% of Dime Community Bancshares worth $26,367,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of Dime Community Bancshares by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 11,860 shares of the savings and loans company’s stock valued at $331,000 after acquiring an additional 1,220 shares during the last quarter. MetLife Investment Management LLC lifted its position in Dime Community Bancshares by 7.2% during the first quarter. MetLife Investment Management LLC now owns 23,050 shares of the savings and loans company’s stock valued at $643,000 after purchasing an additional 1,551 shares during the period. Corebridge Financial Inc. lifted its position in Dime Community Bancshares by 9.1% during the first quarter. Corebridge Financial Inc. now owns 20,736 shares of the savings and loans company’s stock valued at $578,000 after purchasing an additional 1,727 shares during the period. State of Alaska Department of Revenue boosted its holdings in Dime Community Bancshares by 8.1% in the second quarter. State of Alaska Department of Revenue now owns 23,517 shares of the savings and loans company’s stock valued at $633,000 after purchasing an additional 1,763 shares during the last quarter. Finally, TD Asset Management Inc grew its position in Dime Community Bancshares by 3.3% during the 2nd quarter. TD Asset Management Inc now owns 81,318 shares of the savings and loans company’s stock worth $2,191,000 after purchasing an additional 2,580 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Dime Community Bancshares from $37.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, October 27th. DA Davidson assumed coverage on Dime Community Bancshares in a report on Monday, October 27th. They set a “buy” rating and a $36.00 target price on the stock. Zacks Research downgraded Dime Community Bancshares from a “hold” rating to a “strong sell” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $35.13.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 2,200 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $26.29, for a total transaction of $57,838.00. Following the transaction, the director directly owned 33,985 shares of the company’s stock, valued at $893,465.65. This trade represents a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Basswood Capital Management, L bought 20,537 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was bought at an average price of $26.26 per share, for a total transaction of $539,301.62. Following the transaction, the director owned 1,034,158 shares of the company’s stock, valued at approximately $27,156,989.08. This trade represents a 2.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 14,200 shares of company stock worth $414,948 in the last three months. 7.10% of the stock is owned by corporate insiders.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $28.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.58. Dime Community Bancshares, Inc. has a 52 week low of $23.25 and a 52 week high of $37.13. The stock’s 50-day moving average price is $28.27 and its 200-day moving average price is $28.21. The stock has a market capitalization of $1.24 billion, a PE ratio of 24.87 and a beta of 1.15.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, October 23rd. The savings and loans company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.67 by ($0.06). Dime Community Bancshares had a return on equity of 7.81% and a net margin of 8.72%.The business had revenue of $116.67 million for the quarter, compared to analysts’ expectations of $112.75 million. During the same quarter in the prior year, the company posted $0.29 EPS. As a group, equities analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.5%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 87.72%.

Dime Community Bancshares 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.