Russell Investments Group Ltd. Has $8.98 Million Stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Russell Investments Group Ltd. lessened its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 292,156 shares of the savings and loans company's stock after selling 80,081 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.75% of Dime Community Bancshares worth $8,979,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC raised its holdings in shares of Dime Community Bancshares by 91.0% during the 3rd 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. Swiss National Bank raised its holdings in Dime Community Bancshares by 18.4% during the fourth quarter. Swiss National Bank now owns 81,602 shares of the savings and loans company's stock valued at $2,508,000 after buying an additional 12,700 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Dime Community Bancshares in the 4th quarter valued at approximately $4,850,000. Proficio Capital Partners LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter worth $1,635,000. Finally, Intech Investment Management LLC raised its holdings in Dime Community Bancshares by 100.7% in the 4th quarter. Intech Investment Management LLC now owns 33,322 shares of the savings and loans company's stock worth $1,024,000 after acquiring an additional 16,719 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Dime Community Bancshares Stock Performance

Shares of DCOM traded up $0.69 during trading hours on Tuesday, reaching $25.18. 369,643 shares of the company traded hands, compared to its average volume of 259,846. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. The stock's fifty day moving average is $28.68 and its 200 day moving average is $30.79. Dime Community Bancshares, Inc. has a 1-year low of $17.49 and a 1-year high of $37.60. The stock has a market cap of $1.10 billion, a P/E ratio of 42.68 and a beta of 0.96.

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

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.97%. Dime Community Bancshares's dividend payout ratio is currently 169.49%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 9,815 shares of the company's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 41,185 shares of the company's stock, valued at $1,287,031.25. This trade represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have acquired 1,729 shares of company stock valued at $48,021 in the last 90 days. 9.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DCOM has been the topic of several research analyst reports. Keefe, Bruyette & Woods lowered their price target on Dime Community Bancshares from $42.00 to $41.00 and set an "outperform" rating on the stock in a research report on Friday, January 24th. Piper Sandler raised Dime Community Bancshares from a "neutral" rating to an "overweight" rating and raised their target price for the company from $36.00 to $38.00 in a report on Thursday, January 23rd. One 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 MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

Dime Community Bancshares Company 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.