Denali Advisors LLC Invests $235,000 in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Denali Advisors LLC acquired a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 11,500 shares of the savings and loans company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in shares of Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC acquired a new stake in Dime Community Bancshares in the 2nd quarter valued at approximately $101,000. EMC Capital Management raised its position in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after purchasing an additional 2,924 shares during the period. Everence Capital Management Inc. purchased a new stake in Dime Community Bancshares in the first quarter valued at approximately $243,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in Dime Community Bancshares by 24.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,837 shares of the savings and loans company’s stock worth $247,000 after purchasing an additional 2,523 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Trading Up 10.5 %

NASDAQ:DCOM opened at $28.75 on Wednesday. The stock has a fifty day moving average price of $24.09 and a 200 day moving average price of $20.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $29.20. The firm has a market cap of $1.12 billion, a PE ratio of 16.15 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The business had revenue of $171.23 million during the quarter, compared to analysts’ expectations of $82.19 million. During the same quarter last year, the business posted $0.68 EPS. Sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.59 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Wednesday, July 17th were issued a $0.25 dividend. The ex-dividend date was Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.48%. Dime Community Bancshares’s payout ratio is 56.18%.

Analysts Set New Price Targets

Several research firms recently issued reports on DCOM. Raymond James upgraded Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $29.00 to $35.00 in a report on Tuesday. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. StockNews.com raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

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.