Dimensional Fund Advisors LP Has $79.60 Million Position in Dime Community Bancshares, Inc. $DCOM

Dimensional Fund Advisors LP lifted its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,353,786 shares of the savings and loans company’s stock after purchasing an additional 23,035 shares during the quarter. Dimensional Fund Advisors LP owned about 5.36% of Dime Community Bancshares worth $79,602,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund boosted its holdings in Dime Community Bancshares by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after acquiring an additional 683 shares in the last quarter. Maryland State Retirement & Pension System bought a new stake in shares of Dime Community Bancshares during the first quarter valued at approximately $202,000. Principal Financial Group Inc. increased its holdings in shares of Dime Community Bancshares by 2.0% during the first quarter. Principal Financial Group Inc. now owns 198,465 shares of the savings and loans company’s stock valued at $6,712,000 after acquiring an additional 3,831 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Dime Community Bancshares by 2,583.3% during the first quarter. Fifth Third Bancorp now owns 10,116 shares of the savings and loans company’s stock worth $342,000 after purchasing an additional 9,739 shares during the period. Finally, Sovran Advisors LLC raised its position in shares of Dime Community Bancshares by 17.6% during the first quarter. Sovran Advisors LLC now owns 40,241 shares of the savings and loans company’s stock worth $1,444,000 after purchasing an additional 6,024 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Price Performance

DCOM stock opened at $40.83 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $39.25 and a two-hundred day simple moving average of $36.03. The company has a market capitalization of $1.80 billion, a P/E ratio of 17.30 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.62.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

Wall Street Analysts Forecast Growth

DCOM has been the topic of a number of recent research reports. DA Davidson increased their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Insider Activity at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 32,751 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the sale, the director directly owned 6,785 shares of the company’s stock, valued at approximately $264,750.70. This represents a 82.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Raymond A. Nielsen sold 1,650 shares of the 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 completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 78,803 shares of company stock worth $3,101,749. 7.40% of the stock is owned by 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.