Bank of New York Mellon Corp Boosts Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Bank of New York Mellon Corp raised its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 421,392 shares of the savings and loans company's stock after acquiring an additional 46,903 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.08% of Dime Community Bancshares worth $12,951,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DCOM. KBC Group NV lifted its stake in shares of Dime Community Bancshares by 50.8% during the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company's stock valued at $83,000 after buying an additional 909 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Dime Community Bancshares during the 4th quarter valued at approximately $92,000. GAMMA Investing LLC lifted its stake in shares of Dime Community Bancshares by 17.4% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company's stock valued at $106,000 after buying an additional 512 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Dime Community Bancshares by 9.4% during the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company's stock valued at $155,000 after buying an additional 465 shares in the last quarter. Finally, Savant Capital LLC purchased a new stake in shares of Dime Community Bancshares during the 4th quarter valued at approximately $209,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM traded up $0.66 during trading on Friday, reaching $28.00. The company had a trading volume of 190,432 shares, compared to its average volume of 237,935. The company has a fifty day moving average of $30.76 and a two-hundred day moving average of $30.77. The stock has a market capitalization of $1.22 billion, a P/E ratio of 47.46 and a beta of 1.04. Dime Community Bancshares, Inc. has a 12 month low of $17.49 and a 12 month high of $37.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Equities research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 annualized dividend and a yield of 3.57%. Dime Community Bancshares's payout ratio is currently 169.49%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler upgraded shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and upped their price target for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Stephens upgraded shares of Dime Community Bancshares from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $30.00 to $39.00 in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $38.50.

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the completion of the transaction, the director now directly owns 37,147 shares in the company, valued at $1,158,986.40. This trade represents a 20.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond A. Nielsen sold 3,000 shares of the firm's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the sale, the director now owns 41,185 shares of the company's stock, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought 1,729 shares of company stock valued at $48,021 in the last quarter. Company insiders own 9.10% of the company's stock.

About Dime Community Bancshares

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