Basswood Capital Management L.L.C. Increases Stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Basswood Capital Management L.L.C. raised its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 0.0% in the 3rd quarter, Holdings Channel reports. The firm owned 2,034,363 shares of the savings and loans company’s stock after purchasing an additional 876 shares during the quarter. Dime Community Bancshares comprises about 3.0% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 4th biggest holding. Basswood Capital Management L.L.C. owned approximately 0.05% of Dime Community Bancshares worth $58,590,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kimelman & Baird LLC acquired a new position in Dime Community Bancshares during the 2nd quarter valued at approximately $56,000. GAMMA Investing LLC boosted its holdings in shares of Dime Community Bancshares by 30.4% during the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after acquiring an additional 685 shares during the period. Nisa Investment Advisors LLC grew 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 worth $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares in the 2nd quarter worth about $101,000. Finally, Denali Advisors LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at about $235,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DCOM shares. Raymond James raised their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Stephens upgraded Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Dime Community Bancshares has an average rating of “Moderate Buy” and a consensus price target of $31.40.

Dime Community Bancshares Trading Down 0.1 %

Dime Community Bancshares stock opened at $35.88 on Monday. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $37.60. The stock has a market capitalization of $1.40 billion, a PE ratio of 23.92 and a beta of 0.99. The firm has a 50 day simple moving average of $31.26 and a 200-day simple moving average of $25.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The firm had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same period in the previous year, the business posted $0.56 earnings per share. As a group, equities research analysts expect that Dime Community Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s payout ratio is currently 66.67%.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 29,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the transaction, the director now owns 1,044,221 shares in the company, valued at $33,415,072. This represents a 2.86 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.10% of the stock is owned by corporate insiders.

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.