Quantbot Technologies LP Boosts Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Quantbot Technologies LP raised its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 96,563.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,633 shares of the savings and loans company’s stock after purchasing an additional 10,622 shares during the period. Quantbot Technologies LP’s holdings in Dime Community Bancshares were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DCOM. Quest Partners LLC grew its stake in Dime Community Bancshares by 9.4% in the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock valued at $155,000 after acquiring an additional 465 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Dime Community Bancshares in the third quarter valued at about $478,000. Charles Schwab Investment Management Inc. grew its position in shares of Dime Community Bancshares by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 316,611 shares of the savings and loans company’s stock valued at $9,118,000 after purchasing an additional 5,052 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Dime Community Bancshares by 120.9% in the third quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock valued at $13,851,000 after purchasing an additional 263,225 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of Dime Community Bancshares by 15.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock worth $31,416,000 after purchasing an additional 143,402 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DCOM. Keefe, Bruyette & Woods reduced their target price on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. 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. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Transactions at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the sale, the director now directly owns 41,185 shares in the company, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Basswood Capital Management, L sold 9,815 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the sale, the director now directly owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. This trade represents a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 1,729 shares of company stock worth $48,021 in the last three months. Company insiders own 9.10% of the company’s stock.

Dime Community Bancshares Stock Down 2.1 %

Shares of NASDAQ DCOM opened at $27.65 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of 46.87 and a beta of 1.04. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.03 and a current ratio of 1.03. Dime Community Bancshares, Inc. has a 1 year low of $17.49 and a 1 year high of $37.60. The firm’s 50 day moving average price is $30.17 and its 200 day moving average price is $30.92.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Thursday, April 24th. Stockholders of record on Thursday, April 17th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, April 17th. Dime Community Bancshares’s dividend payout ratio is currently 169.49%.

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.