Principal Financial Group Inc. Has $5.85 Million Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Principal Financial Group Inc. increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 14.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 190,264 shares of the savings and loans company's stock after buying an additional 24,145 shares during the period. Principal Financial Group Inc. owned about 0.49% of Dime Community Bancshares worth $5,848,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of DCOM. KBC Group NV boosted its stake 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 period. USA Financial Formulas bought a new stake in shares of Dime Community Bancshares in the 4th quarter worth approximately $92,000. GAMMA Investing LLC boosted 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. Quest Partners LLC boosted its position 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 valued at $155,000 after purchasing an additional 465 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Dime Community Bancshares by 31.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company's stock worth $182,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 75.27% of the company's stock.

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Dime Community Bancshares Price Performance

DCOM stock traded down $0.55 during trading on Thursday, hitting $28.57. The company had a trading volume of 100,852 shares, compared to its average volume of 238,756. The business has a 50 day moving average of $31.18 and a 200 day moving average of $30.58. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 48.42 and a beta of 1.04. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares, Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued 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, research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, January 17th. Dime Community Bancshares's dividend payout ratio (DPR) is presently 169.49%.

Analyst Upgrades and Downgrades

DCOM has been the subject of several analyst reports. Stephens raised shares of Dime Community Bancshares from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $30.00 to $39.00 in a report on Monday, November 18th. 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 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 target price for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.40.

Insider Transactions at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 9,815 shares of the business's stock in a transaction that occurred 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 directly owns 37,147 shares in the company, valued at $1,158,986.40. The trade was a 20.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 41,185 shares of the company's stock, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,815 shares of company stock valued at $471,498. Corporate insiders own 9.10% 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.