Public Sector Pension Investment Board Has $2.15 Million Stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Public Sector Pension Investment Board trimmed its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 3.2% in the third quarter, Holdings Channel reports. The fund owned 74,718 shares of the savings and loans company’s stock after selling 2,500 shares during the period. Public Sector Pension Investment Board’s holdings in Dime Community Bancshares were worth $2,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DCOM. Vanguard Group Inc. grew its stake in Dime Community Bancshares by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock valued at $47,762,000 after acquiring an additional 19,999 shares during the period. SG Americas Securities LLC acquired a new position in Dime Community Bancshares in the second quarter valued at about $400,000. Hennion & Walsh Asset Management Inc. grew its stake in Dime Community Bancshares by 46.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 18,788 shares of the savings and loans company’s stock valued at $383,000 after acquiring an additional 5,951 shares during the period. Nisa Investment Advisors LLC grew its stake in Dime Community Bancshares by 496.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after acquiring an additional 4,000 shares during the period. Finally, Stieven Capital Advisors L.P. grew its stake in Dime Community Bancshares by 22.2% in the second quarter. Stieven Capital Advisors L.P. now owns 298,345 shares of the savings and loans company’s stock valued at $6,086,000 after acquiring an additional 54,193 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Dime Community Bancshares Stock Performance

DCOM opened at $36.59 on Thursday. Dime Community Bancshares, Inc. has a 52-week low of $17.29 and a 52-week high of $37.60. The firm has a market capitalization of $1.43 billion, a PE ratio of 24.39 and a beta of 1.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $31.75 and its 200 day simple moving average is $25.62.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. The company had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same quarter in the previous year, the company posted $0.56 EPS. As a group, sell-side analysts expect that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 2.73%. Dime Community Bancshares’s payout ratio is presently 66.67%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DCOM shares. Raymond James upped their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.20.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 29,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the purchase, the director now directly owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 9.10% of the stock is currently owned by corporate 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.