JPMorgan Chase & Co. Purchases 149,279 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

JPMorgan Chase & Co. increased its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 284.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,778 shares of the savings and loans company's stock after acquiring an additional 149,279 shares during the quarter. JPMorgan Chase & Co. owned 0.52% of Dime Community Bancshares worth $6,202,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Prudential Financial Inc. raised its holdings in shares of Dime Community Bancshares by 39.2% during the fourth quarter. Prudential Financial Inc. now owns 387,102 shares of the savings and loans company's stock valued at $11,898,000 after acquiring an additional 108,954 shares during the period. Vanguard Group Inc. raised its holdings in shares of Dime Community Bancshares by 10.3% during the fourth quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company's stock valued at $84,202,000 after acquiring an additional 256,466 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Dime Community Bancshares during the fourth quarter valued at approximately $249,000. Sei Investments Co. raised its holdings in shares of Dime Community Bancshares by 73.0% during the fourth quarter. Sei Investments Co. now owns 44,755 shares of the savings and loans company's stock valued at $1,376,000 after acquiring an additional 18,884 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Dime Community Bancshares by 5.5% during the fourth quarter. American Century Companies Inc. now owns 759,241 shares of the savings and loans company's stock valued at $23,335,000 after acquiring an additional 39,686 shares during the period. Institutional investors and hedge funds own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Stephens dropped their price objective on shares of Dime Community Bancshares from $36.00 to $32.50 and set an "overweight" rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Finally, Piper Sandler upgraded 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. One equities research 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 stock. According to data from MarketBeat, Dime Community Bancshares presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.88.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 3,000 shares of the company's stock in a transaction 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 approximately $1,287,031.25. This represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the company's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total value of $306,228.00. Following the transaction, the director now directly owns 37,147 shares in the company, valued at approximately $1,158,986.40. This represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 1,729 shares of company stock valued at $48,021 in the last ninety days. Company insiders own 9.10% of the company's stock.

Dime Community Bancshares Stock Up 1.2 %

DCOM stock traded up $0.31 during trading hours on Wednesday, hitting $26.13. The company's stock had a trading volume of 59,164 shares, compared to its average volume of 259,833. 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 market capitalization of $1.14 billion, a PE ratio of 44.29 and a beta of 0.96. Dime Community Bancshares, Inc. has a 12 month low of $17.49 and a 12 month high of $37.60. The stock has a 50 day moving average price of $27.83 and a two-hundred day moving average price of $30.66.

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

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Thursday, April 17th. Dime Community Bancshares's dividend payout ratio (DPR) is presently 169.49%.

Dime Community Bancshares 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.