Nisa Investment Advisors LLC Increases Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Nisa Investment Advisors LLC grew its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 31.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,305 shares of the savings and loans company’s stock after purchasing an additional 1,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Dime Community Bancshares were worth $182,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new position in shares of Dime Community Bancshares in the 3rd quarter valued at about $235,000. Creative Planning bought a new stake in shares of Dime Community Bancshares in the 3rd quarter valued at approximately $243,000. GAMMA Investing LLC boosted its holdings in shares of 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 worth $85,000 after purchasing an additional 685 shares during the period. Kimelman & Baird LLC bought a new position in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $56,000. Finally, The Manufacturers Life Insurance Company raised its holdings in Dime Community Bancshares by 1,546.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock valued at $4,441,000 after buying an additional 204,493 shares during the period. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $34.66 on Thursday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 23.11 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $17.29 and a 52-week high of $35.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The company’s 50 day moving average is $28.35 and its 200 day moving average is $23.44.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data 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). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. The company had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. During the same quarter last year, the company earned $0.56 earnings per share. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.5 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

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

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.