New York State Teachers Retirement System Lowers Stock Position in Dime Community Bancshares, Inc. $DCOM

New York State Teachers Retirement System decreased its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 53.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 22,053 shares of the savings and loans company’s stock after selling 25,823 shares during the period. New York State Teachers Retirement System’s holdings in Dime Community Bancshares were worth $746,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Pictet Asset Management Holding SA purchased a new stake in shares of Dime Community Bancshares in the first quarter valued at approximately $243,000. Louisiana State Employees Retirement System acquired a new stake in Dime Community Bancshares in the first quarter valued at $612,000. Hilton Head Capital Partners LLC boosted its position in shares of Dime Community Bancshares by 54.5% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock worth $49,000 after purchasing an additional 512 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Dime Community Bancshares by 40,939.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 37,756 shares of the savings and loans company’s stock worth $1,136,000 after purchasing an additional 37,664 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter worth $218,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 32,751 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the sale, the director directly owned 6,785 shares in the company, valued at $264,750.70. This represents a 82.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond A. Nielsen sold 1,650 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 78,803 shares of company stock valued at $3,101,749 in the last three months. 7.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on DCOM. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. Finally, DA Davidson increased their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Dime Community Bancshares Trading Up 0.1%

Shares of DCOM opened at $39.84 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $38.31 and a 200-day simple moving average of $35.13. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $41.62. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 16.88 and a beta of 0.99.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, July 17th. Dime Community Bancshares’s dividend payout ratio is 37.59%.

Dime Community Bancshares Company 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.