MetLife Investment Management LLC Sells 876 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

MetLife Investment Management LLC lowered its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 4.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,112 shares of the savings and loans company’s stock after selling 876 shares during the quarter. MetLife Investment Management LLC’s holdings in Dime Community Bancshares were worth $579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Dime Community Bancshares during the second quarter valued at about $400,000. Hennion & Walsh Asset Management Inc. lifted its position in Dime Community Bancshares by 46.4% during 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 last quarter. Nisa Investment Advisors LLC boosted 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 in the last quarter. Stieven Capital Advisors L.P. boosted 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 in the last quarter. Finally, Rhumbline Advisers grew its holdings in Dime Community Bancshares by 0.4% in the second quarter. Rhumbline Advisers now owns 109,328 shares of the savings and loans company’s stock worth $2,230,000 after purchasing an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $35.89 on Friday. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 23.93 and a beta of 1.03. Dime Community Bancshares, Inc. has a 12 month low of $17.29 and a 12 month high of $37.60. The company has a 50 day simple moving average of $32.06 and a two-hundred day simple moving average of $25.85. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). The business had revenue of $171.87 million during the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $0.56 earnings per share. As a group, analysts predict that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

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. This represents a $1.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is 66.67%.

Insider Activity at Dime Community Bancshares

In other news, Director Basswood Capital Management, L purchased 29,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director now owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. This represents a 2.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 9.10% of the stock is owned by company insiders.

Analyst Ratings Changes

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

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.