GAMMA Investing LLC Increases Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

GAMMA Investing LLC increased its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 30.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,936 shares of the savings and loans company’s stock after acquiring an additional 685 shares during the period. GAMMA Investing LLC’s holdings in Dime Community Bancshares were worth $85,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in DCOM. Vanguard Group Inc. boosted its holdings in shares of Dime Community Bancshares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock worth $47,762,000 after purchasing an additional 19,999 shares during the period. Dimensional Fund Advisors LP lifted its position in Dime Community Bancshares by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock worth $44,328,000 after buying an additional 13,650 shares during the last quarter. Boston Partners boosted its stake in Dime Community Bancshares by 4.8% during the first quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after buying an additional 31,853 shares during the period. American Century Companies Inc. increased its position in Dime Community Bancshares by 13.9% during the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after acquiring an additional 77,284 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of Dime Community Bancshares by 33.9% in the second quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock valued at $9,967,000 after acquiring an additional 123,800 shares during the period. 75.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DCOM has been the subject of a number of recent analyst reports. Piper Sandler cut shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. StockNews.com cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Raymond James raised their price target on Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM opened at $30.28 on Tuesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.18 billion, a PE ratio of 17.01 and a beta of 1.00. The firm’s 50 day simple moving average is $25.85 and its 200-day simple moving average is $22.02. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $30.39.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $171.23 million during the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. During the same period in the previous year, the company posted $0.68 EPS. As a group, equities analysts predict that Dime Community Bancshares, Inc. will post 1.61 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s payout ratio is 56.18%.

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.