Penn Capital Management Company LLC Takes $10.07 Million Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Penn Capital Management Company LLC bought a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 327,559 shares of the savings and loans company's stock, valued at approximately $10,068,000. Penn Capital Management Company LLC owned about 0.84% of Dime Community Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its stake in Dime Community Bancshares by 91.0% in the third 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 in the last quarter. Geode Capital Management LLC raised its position in shares of Dime Community Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company's stock valued at $24,773,000 after buying an additional 9,978 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Dime Community Bancshares by 10.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 52,499 shares of the savings and loans company's stock worth $1,512,000 after acquiring an additional 5,017 shares during the last quarter. GAMMA Investing LLC grew its position in 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 worth $106,000 after acquiring an additional 512 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in Dime Community Bancshares in the fourth quarter worth $92,000. Hedge funds and other institutional investors own 75.27% of the company's stock.

Analyst Upgrades and Downgrades

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

Dime Community Bancshares Stock Performance

DCOM stock remained flat at $25.62 during midday trading on Monday. The company's stock had a trading volume of 221,884 shares, compared to its average volume of 262,354. The company has a market capitalization of $1.12 billion, a PE ratio of 43.42 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 company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average price of $27.49 and a 200 day moving average price of $30.64.

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 business had revenue of $103.83 million during the quarter, compared to analysts' expectations 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 quarter in the prior year, the company posted $0.38 EPS. Analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be given a $0.3438 dividend. This is a positive change from Dime Community Bancshares's previous quarterly dividend of $0.25. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.37%. Dime Community Bancshares's dividend payout ratio (DPR) is currently 158.73%.

Insider Activity

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 3,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the completion of the transaction, the director now owns 41,185 shares in the company, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Basswood Capital Management, L sold 9,815 shares of Dime Community Bancshares 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 transaction, the director now directly owns 37,147 shares of the company's stock, valued at approximately $1,158,986.40. This trade represents a 20.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 1,729 shares of company stock valued at $48,021. Company insiders own 7.10% of the company's stock.

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.