The Manufacturers Life Insurance Company Acquires 263,225 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

The Manufacturers Life Insurance Company boosted its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 120.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 480,944 shares of the savings and loans company’s stock after purchasing an additional 263,225 shares during the quarter. The Manufacturers Life Insurance Company owned 1.23% of Dime Community Bancshares worth $13,851,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Kimelman & Baird LLC acquired a new stake in shares of Dime Community Bancshares in the second quarter valued at approximately $56,000. GAMMA Investing LLC raised its holdings in Dime Community Bancshares by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after acquiring an additional 685 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Dime Community Bancshares by 496.9% during the 2nd 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. Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter worth $101,000. Finally, Denali Advisors LLC bought a new position in shares of Dime Community Bancshares in the second quarter worth $235,000. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Trading Down 0.1 %

DCOM opened at $35.88 on Monday. The company has a market cap of $1.40 billion, a P/E ratio of 23.92 and a beta of 0.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $31.26 and its 200-day moving average is $25.32. Dime Community Bancshares, Inc. has a 1-year low of $17.29 and a 1-year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The company had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the prior year, the business earned $0.56 EPS. Equities research analysts predict that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were issued a $0.25 dividend. The ex-dividend date was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.79%. Dime Community Bancshares’s payout ratio is presently 66.67%.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 29,000 shares of Dime Community Bancshares stock in a transaction on Tuesday, November 12th. The shares were purchased at an average cost of $32.00 per share, with a total value of $928,000.00. Following the acquisition, the director now directly owns 1,044,221 shares of the company’s stock, valued at $33,415,072. The trade was a 2.86 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 9.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on DCOM. Raymond James upped their price objective on shares of 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. Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. Finally, StockNews.com cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.40.

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.