Systematic Financial Management LP Trims Holdings in Dime Community Bancshares, Inc. $DCOM

Systematic Financial Management LP decreased its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,245,286 shares of the savings and loans company’s stock after selling 24,365 shares during the quarter. Systematic Financial Management LP owned about 2.84% of Dime Community Bancshares worth $37,471,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in Dime Community Bancshares by 3.6% during the third quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock worth $347,000 after buying an additional 406 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in Dime Community Bancshares by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock worth $878,000 after buying an additional 449 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in Dime Community Bancshares by 3.3% during the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock worth $699,000 after buying an additional 819 shares in the last quarter. Larson Financial Group LLC lifted its position in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Dime Community Bancshares by 4.6% during the third quarter. Illinois Municipal Retirement Fund now owns 20,926 shares of the savings and loans company’s stock worth $624,000 after buying an additional 915 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director owned 35,607 shares in the company, valued at $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by corporate insiders.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $36.95 on Friday. Dime Community Bancshares, Inc. has a 52 week low of $24.57 and a 52 week high of $37.90. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.63 billion, a P/E ratio of 15.66 and a beta of 1.00. The stock’s fifty day moving average is $35.15 and its two-hundred day moving average is $32.50.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were given a $0.25 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. Dime Community Bancshares’s payout ratio is currently 37.59%.

Analysts Set New Price Targets

DCOM has been the topic of a number of analyst reports. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Keefe, Bruyette & Woods lifted their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Piper Sandler initiated coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. DA Davidson lifted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.