Basswood Capital Management L.L.C. Acquires 876 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Basswood Capital Management L.L.C. increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 0.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,034,363 shares of the savings and loans company’s stock after purchasing an additional 876 shares during the period. Dime Community Bancshares accounts for 3.0% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 4th biggest position. Basswood Capital Management L.L.C. owned about 5.20% of Dime Community Bancshares worth $58,590,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after purchasing an additional 263,225 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after buying an additional 162,004 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Dime Community Bancshares by 33.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock worth $9,967,000 after buying an additional 123,800 shares during the period. American Century Companies Inc. boosted its holdings in Dime Community Bancshares by 13.9% in the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after acquiring an additional 77,284 shares during the last quarter. Finally, Stieven Capital Advisors L.P. grew its position in Dime Community Bancshares by 22.2% during the second quarter. Stieven Capital Advisors L.P. now owns 298,345 shares of the savings and loans company’s stock valued at $6,086,000 after acquiring an additional 54,193 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM opened at $35.88 on Monday. The business’s 50-day simple moving average is $31.26 and its 200 day simple moving average is $25.32. The company has a market cap of $1.40 billion, a P/E ratio of 23.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data 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). The firm had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the prior year, the business earned $0.56 EPS. On average, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were bought at an average cost of $32.00 per share, with a total value of $928,000.00. Following the transaction, the director now directly owns 1,044,221 shares in the company, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

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.