Prudential Financial Inc. Boosts Stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Prudential Financial Inc. boosted its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 39.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,102 shares of the savings and loans company's stock after acquiring an additional 108,954 shares during the quarter. Prudential Financial Inc. owned 0.99% of Dime Community Bancshares worth $11,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust grew its position in shares of Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company's stock valued at $55,000 after buying an additional 654 shares during the last quarter. KBC Group NV boosted its holdings in Dime Community Bancshares by 50.8% in the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company's stock valued at $83,000 after acquiring an additional 909 shares during the last quarter. USA Financial Formulas bought a new stake in Dime Community Bancshares in the fourth quarter valued at approximately $92,000. GAMMA Investing LLC increased its position in 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 purchasing an additional 512 shares during the period. Finally, Quest Partners LLC raised its holdings in 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 worth $155,000 after purchasing an additional 465 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 3,000 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the transaction, the director now owns 41,185 shares of the company's stock, valued at $1,287,031.25. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction on 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 sale, the director now directly owns 37,147 shares of the company's stock, valued at $1,158,986.40. The trade was a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 1,729 shares of company stock worth $48,021. Insiders own 9.10% of the company's stock.

Dime Community Bancshares Stock Up 0.8 %

Shares of DCOM stock traded up $0.22 on Wednesday, reaching $28.21. 55,971 shares of the company were exchanged, compared to its average volume of 252,291. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average of $30.01 and a 200-day moving average of $31.04. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 47.81 and a beta of 1.04. Dime Community Bancshares, Inc. has a one year low of $17.49 and a one year high of $37.60.

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

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.54%. Dime Community Bancshares's dividend payout ratio (DPR) is presently 169.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DCOM shares. Piper Sandler raised shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $38.50.

Dime Community Bancshares Company Profile

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.