Dime Community Bancshares, Inc. (NASDAQ:DCOM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 173,042 shares of the savings and loans company’s stock after selling 8,364 shares during the period. Principal Financial Group Inc. owned 0.44% of Dime Community Bancshares worth $3,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in shares of Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after purchasing an additional 4,000 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of 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 worth $383,000 after purchasing an additional 5,951 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Dime Community Bancshares during the second quarter worth $400,000. Boston Partners raised its holdings in shares of 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 purchasing an additional 31,853 shares during the period. Finally, EMC Capital Management increased its holdings in shares of Dime Community Bancshares by 42.2% in the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods increased their price objective on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Piper Sandler cut shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $27.25.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $24.89 on Wednesday. The firm has a 50-day moving average price of $23.48 and a 200 day moving average price of $20.44. The firm has a market capitalization of $974.44 million, a PE ratio of 13.98 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. Dime Community Bancshares, Inc. has a 52-week low of $17.29 and a 52-week high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $171.23 million during the quarter, compared to analyst estimates of $82.19 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter in the prior year, the firm posted $0.68 EPS. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.62 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 Wednesday, July 24th. Investors of record on Wednesday, July 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 4.02%. Dime Community Bancshares’s dividend payout ratio is presently 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.