American International Group Inc. Increases Stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

American International Group Inc. increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 4.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,654 shares of the savings and loans company’s stock after purchasing an additional 857 shares during the period. American International Group Inc.’s holdings in Dime Community Bancshares were worth $329,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in DCOM. Strs Ohio purchased a new stake in Dime Community Bancshares during the 2nd quarter valued at $326,000. Signaturefd LLC boosted its position in Dime Community Bancshares by 5,344.4% during the 2nd quarter. Signaturefd LLC now owns 1,960 shares of the savings and loans company’s stock valued at $35,000 after buying an additional 1,924 shares during the period. Carolina Wealth Advisors LLC boosted its position in Dime Community Bancshares by 107.5% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 29,266 shares of the savings and loans company’s stock valued at $516,000 after buying an additional 15,163 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Dime Community Bancshares by 58.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,142 shares of the savings and loans company’s stock valued at $73,000 after buying an additional 1,520 shares during the period. Finally, Polaris Capital Management LLC boosted its position in Dime Community Bancshares by 5.2% during the 1st quarter. Polaris Capital Management LLC now owns 588,151 shares of the savings and loans company’s stock valued at $13,363,000 after buying an additional 29,300 shares during the period. Hedge funds and other institutional investors own 72.25% of the company’s stock.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 231,286 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were bought at an average price of $21.63 per share, with a total value of $5,002,716.18. Following the completion of the acquisition, the director now owns 1,054,584 shares in the company, valued at approximately $22,810,651.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Christopher J. Porzelt sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $21.68, for a total value of $97,560.00. Following the transaction, the insider now owns 11,333 shares of the company’s stock, valued at $245,699.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Basswood Capital Management, L acquired 231,286 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was acquired at an average cost of $21.63 per share, for a total transaction of $5,002,716.18. Following the acquisition, the director now owns 1,054,584 shares of the company’s stock, valued at approximately $22,810,651.92. The disclosure for this purchase can be found here. Insiders own 10.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Raymond James decreased their price objective on shares of Dime Community Bancshares from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, October 20th. StockNews.com upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a report on Monday, November 13th.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $20.79 on Monday. The firm’s 50-day moving average price is $19.73 and its 200-day moving average price is $19.57. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.22. The company has a market cap of $807.09 million, a PE ratio of 7.14 and a beta of 1.10. Dime Community Bancshares, Inc. has a 52-week low of $15.57 and a 52-week high of $36.51.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, October 19th. The savings and loans company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $165.77 million for the quarter, compared to the consensus estimate of $86.65 million. Dime Community Bancshares had a net margin of 19.42% and a return on equity of 12.14%. During the same quarter last year, the firm posted $0.95 EPS. As a group, analysts anticipate that Dime Community Bancshares, Inc. will post 2.67 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 24th. Stockholders of record on Tuesday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend was Monday, October 16th. Dime Community Bancshares’s payout ratio is presently 34.36%.

Dime Community Bancshares Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.