Geode Capital Management LLC Grows Stock Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Geode Capital Management LLC raised its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 902,619 shares of the savings and loans company's stock after purchasing an additional 42,610 shares during the period. Geode Capital Management LLC owned 2.31% of Dime Community Bancshares worth $27,748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in shares of Dime Community Bancshares by 91.0% in the 3rd quarter. Barclays PLC now owns 75,732 shares of the savings and loans company's stock valued at $2,181,000 after purchasing an additional 36,076 shares during the last quarter. Swiss National Bank lifted its stake in shares of Dime Community Bancshares by 18.4% during the fourth quarter. Swiss National Bank now owns 81,602 shares of the savings and loans company's stock worth $2,508,000 after buying an additional 12,700 shares during the period. Franklin Resources Inc. acquired a new position in shares of Dime Community Bancshares in the 4th quarter valued at $480,000. Raymond James Financial Inc. purchased a new position in shares of Dime Community Bancshares in the fourth quarter worth about $4,850,000. Finally, Proficio Capital Partners LLC purchased a new stake in Dime Community Bancshares in the fourth quarter valued at approximately $1,635,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM traded down $0.31 during trading on Wednesday, hitting $25.51. 87,619 shares of the stock traded hands, compared to its average volume of 310,349. 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 company has a fifty day moving average price of $27.83 and a two-hundred day moving average price of $30.66. Dime Community Bancshares, Inc. has a 52-week low of $17.49 and a 52-week high of $37.60. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 43.24 and a beta of 0.96.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The savings and loans company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The firm had revenue of $103.83 million during the quarter, compared to analyst estimates of $105.83 million. Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, equities analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 17th will be given 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 3.92%. Dime Community Bancshares's dividend payout ratio (DPR) is 169.49%.

Analyst Ratings Changes

A number of equities analysts have issued reports on DCOM shares. Piper Sandler raised shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their target price on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, Stephens lowered their price target on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.88.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 3,000 shares of the company'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 completion of the transaction, the director now owns 41,185 shares in the company, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the firm's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total transaction 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 represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 1,729 shares of company stock valued at $48,021. 9.10% of the stock is owned by company insiders.

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.