Great Lakes Advisors LLC Purchases New Shares in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Great Lakes Advisors LLC acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 148,766 shares of the savings and loans company's stock, valued at approximately $4,572,000. Great Lakes Advisors LLC owned approximately 0.38% of Dime Community Bancshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust raised its position in shares of Dime Community Bancshares by 58.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company's stock valued at $55,000 after purchasing an additional 654 shares during the period. KBC Group NV raised its position in shares of 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 purchasing an additional 909 shares during the period. USA Financial Formulas bought a new position in shares of Dime Community Bancshares in the fourth quarter valued at approximately $92,000. GAMMA Investing LLC raised its position in shares of Dime Community Bancshares by 17.4% in the fourth 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 increased its position in Dime Community Bancshares by 9.4% during the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company's stock worth $155,000 after acquiring an additional 465 shares during the period. Institutional investors own 75.27% of the company's stock.

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Insiders Place Their Bets

In other news, Director Basswood Capital Management, L sold 9,815 shares of the business's 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 sale, the director now owns 37,147 shares in the company, valued at approximately $1,158,986.40. The trade was a 20.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the business's stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders have acquired 1,729 shares of company stock worth $48,021 over the last 90 days. Corporate insiders own 9.10% of the company's stock.

Dime Community Bancshares Stock Performance

DCOM traded up $0.16 during trading on Wednesday, reaching $28.37. 351,756 shares of the company's stock were exchanged, compared to its average volume of 238,608. Dime Community Bancshares, Inc. has a fifty-two week low of $17.49 and a fifty-two 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 50 day moving average price of $30.65 and a 200 day moving average price of $30.84. The company has a market capitalization of $1.24 billion, a P/E ratio of 48.09 and a beta of 1.04.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results 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 predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DCOM. Keefe, Bruyette & Woods dropped 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 research report on Friday, January 24th. Piper Sandler raised shares of Dime Community Bancshares from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target 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.