Raymond James Financial Inc. Buys New Shares in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Raymond James Financial Inc. bought a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 157,794 shares of the savings and loans company's stock, valued at approximately $4,850,000. Raymond James Financial Inc. owned 0.40% of Dime Community Bancshares at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in Dime Community Bancshares by 15.8% during the third quarter. Victory Capital Management Inc. now owns 53,276 shares of the savings and loans company's stock worth $1,534,000 after buying an additional 7,276 shares during the last quarter. Quest Partners LLC grew its position in shares of 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 acquiring an additional 465 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter worth approximately $478,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Dime Community Bancshares by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 316,611 shares of the savings and loans company's stock worth $9,118,000 after purchasing an additional 5,052 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Dime Community Bancshares by 120.9% in the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company's stock valued at $13,851,000 after purchasing an additional 263,225 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Piper Sandler raised Dime Community Bancshares from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their price objective on 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. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Dime Community Bancshares presently has an average rating of "Moderate Buy" and an average price target of $38.50.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM traded down $0.58 during trading on Friday, hitting $27.65. 185,897 shares of the company were exchanged, compared to its average volume of 253,045. The company has a market cap of $1.21 billion, a PE ratio of 46.87 and a beta of 1.04. Dime Community Bancshares, Inc. has a 52-week low of $17.49 and a 52-week high of $37.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50 day moving average of $30.17 and a 200 day moving average of $30.96.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. As a group, equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The company also recently declared 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 of this dividend is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. Dime Community Bancshares's dividend payout ratio (DPR) is currently 169.49%.

Insider Transactions at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 3,000 shares of the business's stock in a transaction dated Friday, February 21st. The stock was 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 of the company's stock, valued at approximately $1,287,031.25. The trade was a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L bought 1,043 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $31.23 per share, for a total transaction of $32,572.89. Following the completion of the purchase, the director now directly owns 1,043 shares of the company's stock, valued at $32,572.89. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 1,729 shares of company stock valued at $48,021. 9.10% of the stock is currently 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.