Dime Community Bancshares, Inc. $DCOM Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 19.8% during the 4th quarter, Holdings Channel reports. The fund owned 599,103 shares of the savings and loans company’s stock after acquiring an additional 99,011 shares during the quarter. Verition Fund Management LLC’s holdings in Dime Community Bancshares were worth $18,027,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new stake in Dime Community Bancshares in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC raised its holdings in Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares in the last quarter. iSAM Funds UK Ltd acquired a new stake in Dime Community Bancshares in the third quarter valued at approximately $169,000. Tower Research Capital LLC TRC raised its holdings in Dime Community Bancshares by 326.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 4,446 shares in the last quarter. Finally, Amundi acquired a new stake in Dime Community Bancshares in the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

DCOM has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. DA Davidson raised their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Insider Activity

In other news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares 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 transaction, the director directly owned 35,607 shares of the company’s stock, valued at $1,320,663.63. The trade was a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 7.40% of the company’s stock.

Dime Community Bancshares Stock Down 2.2%

DCOM stock opened at $39.21 on Tuesday. The company has a current ratio of 1.02, a quick 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 $40.76. The company’s 50 day moving average is $36.77 and its two-hundred day moving average is $33.80. The stock has a market cap of $1.73 billion, a P/E ratio of 16.61 and a beta of 1.00.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 37.59%.

Dime Community Bancshares 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.