Empowered Funds LLC Takes Position in Dime Community Bancshares, Inc. $DCOM

Empowered Funds LLC purchased a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the 2nd quarter, Holdings Channel reports. The fund purchased 200,468 shares of the savings and loans company’s stock, valued at approximately $8,149,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new position in Dime Community Bancshares in the 2nd quarter worth about $251,937,000. Rockefeller Capital Management L.P. increased its position in 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 acquiring an additional 37,664 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Dime Community Bancshares by 19.8% in the 1st quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after purchasing an additional 54,382 shares during the period. Deutsche Bank AG purchased a new position in shares of Dime Community Bancshares during the 2nd quarter worth $1,782,000. Finally, Basswood Capital Management L.L.C. purchased a new stake in Dime Community Bancshares in the second quarter worth about $79,106,000. Institutional investors own 75.27% of the company’s stock.

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 53,000 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the completion of the sale, the director owned 6,440 shares in the company, valued at approximately $262,494.40. This trade represents a 89.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 211,748 shares of company stock valued at $8,546,780 over the last three months. Corporate insiders own 7.40% of the company’s stock.

Dime Community Bancshares Stock Up 0.3%

DCOM stock opened at $40.53 on Friday. The business’s 50-day moving average price is $40.33 and its 200-day moving average price is $37.16. The stock has a market cap of $1.79 billion, a P/E ratio of 17.17 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.97.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $128.41 million for the quarter, compared to analysts’ expectations of $123.46 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter last year, the business earned $0.64 EPS. On average, equities research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares’s payout ratio is presently 36.10%.

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.