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

Victory Capital Management Inc. lifted its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 15.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 53,276 shares of the savings and loans company’s stock after buying an additional 7,276 shares during the quarter. Victory Capital Management Inc.’s holdings in Dime Community Bancshares were worth $1,534,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DCOM. Rhumbline Advisers boosted its holdings in shares of Dime Community Bancshares by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 109,328 shares of the savings and loans company’s stock valued at $2,230,000 after purchasing an additional 428 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Dime Community Bancshares by 30.4% in the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after buying an additional 685 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Dime Community Bancshares by 31.2% during the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock valued at $182,000 after buying an additional 1,500 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Dime Community Bancshares during the 2nd quarter valued at approximately $56,000. Finally, EMC Capital Management increased its stake in Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of Dime Community Bancshares stock in a transaction that occurred 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 of the company’s stock, valued at approximately $33,415,072. This represents a 2.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.10% of the company’s stock.

Dime Community Bancshares Stock Performance

DCOM stock opened at $36.36 on Tuesday. 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, Inc. has a 1-year low of $17.29 and a 1-year high of $37.60. The business has a 50-day moving average price of $30.71 and a 200 day moving average price of $24.86. The company has a market capitalization of $1.42 billion, a P/E ratio of 24.24 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). The business 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 period in the previous year, the business earned $0.56 earnings per share. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, October 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.75%. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Raymond James lifted 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. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $30.00 to $39.00 in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $31.40.

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.