Wellington Management Group LLP Takes $39.07 Million Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Wellington Management Group LLP bought a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,271,303 shares of the savings and loans company's stock, valued at approximately $39,073,000. Wellington Management Group LLP owned 3.25% of Dime Community Bancshares as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of 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 worth $106,000 after purchasing an additional 512 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of Dime Community Bancshares by 58.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company's stock valued at $55,000 after acquiring an additional 654 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Dime Community Bancshares by 11.4% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,386 shares of the savings and loans company's stock valued at $258,000 after acquiring an additional 855 shares during the period. KBC Group NV lifted its holdings in shares of Dime Community Bancshares by 50.8% in the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company's stock worth $83,000 after acquiring an additional 909 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Dime Community Bancshares by 9.4% during the 4th quarter. Amalgamated Bank now owns 11,395 shares of the savings and loans company's stock worth $350,000 after purchasing an additional 978 shares during the period. Hedge funds and other institutional investors own 75.27% of the company's stock.

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Insider Activity

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 value of $93,750.00. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Basswood Capital Management, L sold 9,815 shares of the business'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 completion of the sale, 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. In the last quarter, insiders purchased 1,729 shares of company stock worth $48,021. 9.10% of the stock is currently owned by company insiders.

Dime Community Bancshares Stock Down 0.4 %

DCOM traded down $0.10 during trading hours on Friday, hitting $24.07. 384,976 shares of the company's stock were exchanged, compared to its average volume of 258,869. The firm has a market cap of $1.05 billion, a P/E ratio of 40.80 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 of $28.85 and a 200 day moving average of $30.80.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings data 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%. Analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Thursday, April 17th. Dime Community Bancshares's dividend payout ratio is currently 169.49%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DCOM. Keefe, Bruyette & Woods cut their target price 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 lifted their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Dime Community Bancshares has a consensus rating of "Moderate Buy" and a consensus price target of $38.50.

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.