Legal & General Group Plc Takes $3.90 Million Position in Dime Community Bancshares, Inc. $DCOM

Legal & General Group Plc bought a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 96,048 shares of the savings and loans company’s stock, valued at approximately $3,904,000.

A number of other hedge funds have also recently bought and sold shares of DCOM. BlackRock Inc. acquired a new position in shares of Dime Community Bancshares in the second quarter worth about $251,937,000. Rockefeller Capital Management L.P. raised its position in shares of Dime Community Bancshares by 40,939.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 37,756 shares of the savings and loans company’s stock valued at $1,136,000 after buying an additional 37,664 shares during the last quarter. Deutsche Bank AG acquired a new position in Dime Community Bancshares in the second quarter worth about $1,782,000. Bank of America Corp DE raised its stake in Dime Community Bancshares by 19.8% during the first quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after acquiring an additional 54,382 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Dime Community Bancshares in the second quarter valued at about $14,342,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Trading Up 0.9%

DCOM stock opened at $41.30 on Friday. The business has a fifty day moving average price of $40.41 and a 200 day moving average price of $37.33. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.50 and a beta of 0.99. 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, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $41.97.

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

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s payout ratio is presently 36.10%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 53,000 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $40.76, for a total value of $2,160,280.00. Following the transaction, the director directly owned 6,440 shares in the company, valued at $262,494.40. This trade represents a 89.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 211,748 shares of company stock valued at $8,546,780. Corporate insiders own 7.40% of the company’s stock.

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.