Royce & Associates LP Lowers Stock Holdings in Dime Community Bancshares, Inc. $DCOM

Royce & Associates LP trimmed its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 5.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 404,840 shares of the savings and loans company’s stock after selling 25,386 shares during the period. Royce & Associates LP’s holdings in Dime Community Bancshares were worth $12,182,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DCOM. Wellington Management Group LLP lifted its holdings in shares of Dime Community Bancshares by 32.7% during the third quarter. Wellington Management Group LLP now owns 3,406,229 shares of the savings and loans company’s stock valued at $101,608,000 after purchasing an additional 839,183 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Dime Community Bancshares by 97.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock valued at $12,900,000 after acquiring an additional 212,934 shares in the last quarter. Bank of America Corp DE increased its position in shares of Dime Community Bancshares by 271.4% during the third quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock valued at $7,935,000 after acquiring an additional 194,383 shares in the last quarter. Penn Capital Management Company LLC increased its position in shares of Dime Community Bancshares by 20.3% during the third quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock valued at $17,487,000 after acquiring an additional 98,736 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Dime Community Bancshares by 132.3% during the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock valued at $4,726,000 after acquiring an additional 96,523 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Trading Down 1.3%

Shares of Dime Community Bancshares stock opened at $37.16 on Thursday. The company’s fifty day simple moving average is $35.46 and its 200-day simple moving average is $32.77. The stock has a market capitalization of $1.64 billion, a PE ratio of 15.75 and a beta of 1.00. Dime Community Bancshares, Inc. has a 1-year low of $24.99 and a 1-year high of $38.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares Dividend Announcement

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

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the transaction, the director owned 35,607 shares in the company, valued at approximately $1,320,663.63. The trade was a 4.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DCOM shares. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler started coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target for the company. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson lifted their target price on shares of 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, Keefe, Bruyette & Woods lifted their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Dime Community Bancshares Profile

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.