Royce & Associates LP Decreases Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Royce & Associates LP cut its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 428,908 shares of the savings and loans company's stock after selling 74,745 shares during the quarter. Royce & Associates LP owned approximately 1.10% of Dime Community Bancshares worth $13,182,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Barclays PLC lifted its position in Dime Community Bancshares by 91.0% during the third quarter. Barclays PLC now owns 75,732 shares of the savings and loans company's stock valued at $2,181,000 after acquiring an additional 36,076 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Dime Community Bancshares by 120.9% during the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company's stock worth $13,851,000 after purchasing an additional 263,225 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Dime Community Bancshares during the 4th quarter valued at $1,635,000. Principal Financial Group Inc. boosted its position in shares of Dime Community Bancshares by 14.5% in the 4th quarter. Principal Financial Group Inc. now owns 190,264 shares of the savings and loans company's stock worth $5,848,000 after purchasing an additional 24,145 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in Dime Community Bancshares during the 4th quarter worth $279,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 3,000 shares of the 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Basswood Capital Management, L sold 9,815 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total transaction of $306,228.00. Following the sale, the director now 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. In the last quarter, insiders purchased 1,729 shares of company stock worth $48,021. Insiders own 9.10% of the company's stock.

Dime Community Bancshares Stock Performance

NASDAQ:DCOM traded down $0.31 during midday trading on Friday, hitting $27.93. The company's stock had a trading volume of 1,203,490 shares, compared to its average volume of 242,525. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares, Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $37.60. The firm's 50 day moving average is $30.53 and its 200-day moving average is $30.80. The firm has a market cap of $1.22 billion, a P/E ratio of 47.34 and a beta of 1.04.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Equities analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have weighed in on DCOM. Keefe, Bruyette & Woods lowered their price target on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating for the company in a 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 given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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.