Quantbot Technologies LP Increases Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Quantbot Technologies LP raised its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 96,563.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,633 shares of the savings and loans company's stock after buying an additional 10,622 shares during the quarter. Quantbot Technologies LP's holdings in Dime Community Bancshares were worth $327,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DCOM. Stieven Capital Advisors L.P. grew its holdings in shares of Dime Community Bancshares by 86.3% in the fourth quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company's stock valued at $19,060,000 after purchasing an additional 287,195 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Dime Community Bancshares by 120.9% in the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company's stock valued at $13,851,000 after acquiring an additional 263,225 shares during the last quarter. New York State Common Retirement Fund grew its position in Dime Community Bancshares by 433.6% in the fourth quarter. New York State Common Retirement Fund now owns 277,168 shares of the savings and loans company's stock worth $8,519,000 after acquiring an additional 225,227 shares during the period. Raymond James Financial Inc. acquired a new stake in Dime Community Bancshares during the fourth quarter worth $4,850,000. Finally, Great Lakes Advisors LLC purchased a new stake in Dime Community Bancshares in the fourth quarter valued at $4,572,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Dime Community Bancshares Trading Up 2.3 %

NASDAQ:DCOM traded up $0.65 on Wednesday, reaching $28.64. 225,538 shares of the company's stock were exchanged, compared to its average volume of 252,402. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 48.54 and a beta of 1.04. Dime Community Bancshares, Inc. has a 52-week low of $17.49 and a 52-week high of $37.60. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $29.94 and a 200-day moving average of $31.03.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share 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%. As a group, analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.49%. Dime Community Bancshares's payout ratio is 169.49%.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 1,043 shares of the firm's stock in a transaction on Friday, January 31st. The stock was bought at an average cost of $31.23 per share, with a total value of $32,572.89. Following the acquisition, the director now directly owns 1,043 shares of the company's stock, valued at approximately $32,572.89. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the transaction, the director now directly 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 have bought a total of 1,729 shares of company stock valued at $48,021 over the last 90 days. 9.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler raised shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dime Community Bancshares has a consensus rating of "Moderate Buy" and a consensus target price of $38.50.

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.