Arizona State Retirement System Purchases 1,918 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Arizona State Retirement System grew its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 19.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,018 shares of the savings and loans company’s stock after acquiring an additional 1,918 shares during the quarter. Arizona State Retirement System’s holdings in Dime Community Bancshares were worth $369,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in 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 purchasing an additional 654 shares in the last quarter. KBC Group NV increased 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 buying an additional 909 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Dime Community Bancshares during the 4th quarter valued at about $92,000. GAMMA Investing LLC lifted its holdings in shares of Dime Community Bancshares by 17.4% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after acquiring an additional 512 shares during the last quarter. Finally, Quest Partners LLC grew its position in Dime Community Bancshares by 9.4% in the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after acquiring an additional 465 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total transaction of $306,228.00. Following the transaction, the director now owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. This represents a 20.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond A. Nielsen sold 3,000 shares of the firm’s 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 owns 41,185 shares in the company, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,729 shares of company stock valued at $48,021. 9.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $39.00 in a research note on Monday, November 18th. One 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Dime Community Bancshares Trading Up 2.4 %

Shares of NASDAQ DCOM opened at $28.00 on Friday. Dime Community Bancshares, Inc. has a fifty-two week low of $17.49 and a fifty-two week high of $37.60. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 47.46 and a beta of 1.04. The business’s 50 day moving average price is $30.76 and its 200-day moving average price is $30.77.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. On average, sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. Dime Community Bancshares’s dividend payout ratio is currently 169.49%.

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.