Penn Capital Management Company LLC Cuts Stock Position in Dime Community Bancshares, Inc. $DCOM

Penn Capital Management Company LLC lessened its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 7.7% during the 2nd quarter, Holdings Channel reports. The firm owned 562,511 shares of the savings and loans company’s stock after selling 46,977 shares during the period. Dime Community Bancshares makes up about 1.5% of Penn Capital Management Company LLC’s holdings, making the stock its 19th biggest position. Penn Capital Management Company LLC’s holdings in Dime Community Bancshares were worth $22,910,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC lifted its holdings in Dime Community Bancshares by 742.9% during the 3rd 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. Tower Research Capital LLC TRC boosted its position in Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after buying an additional 4,446 shares during the period. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares in the 3rd quarter valued at approximately $169,000. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Dime Community Bancshares in the first quarter worth $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

NASDAQ:DCOM opened at $40.53 on Friday. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $41.97. The company has a fifty day simple moving average of $40.33 and a two-hundred day simple moving average of $37.16. 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 cap of $1.79 billion, a price-to-earnings ratio of 17.17 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.79. The business had revenue of $128.41 million for the quarter, compared to analysts’ expectations of $123.46 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.During the same period last year, the firm earned $0.64 earnings per share. As a group, equities analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.5%. Dime Community Bancshares’s dividend payout ratio is 36.10%.

Insider Transactions at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.73, for a total value of $75,114.00. Following the sale, the director owned 32,400 shares of the company’s stock, valued at $1,352,052. This trade represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Basswood Capital Management, L sold 7,170 shares of the firm’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $41.40, for a total transaction of $296,838.00. Following the completion of the sale, the director owned 6,099 shares in the company, valued at $252,498.60. The trade was a 54.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 211,748 shares of company stock worth $8,546,780 in the last ninety days. 7.40% of the stock is owned by corporate insiders.

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.