Royce & Associates LP Cuts Stock Holdings in Dime Community Bancshares, Inc. $DCOM

Royce & Associates LP trimmed its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 5.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 404,840 shares of the savings and loans company’s stock after selling 25,386 shares during the period. Royce & Associates LP owned about 0.92% of Dime Community Bancshares worth $12,182,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DCOM. Larson Financial Group LLC boosted its holdings in shares of Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares during the period. Tower Research Capital LLC TRC boosted its holdings in shares of Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after purchasing an additional 4,446 shares during the period. iSAM Funds UK Ltd purchased a new stake in shares of Dime Community Bancshares during the third quarter worth about $169,000. Amundi purchased a new stake in shares of Dime Community Bancshares during the third quarter worth about $202,000. Finally, ELCO Management Co. LLC purchased a new stake in shares of Dime Community Bancshares during the fourth quarter worth about $230,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the transaction, the director directly owned 35,607 shares in the company, valued at approximately $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DCOM. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. DA Davidson increased their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price for the company. Finally, Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Price Performance

DCOM stock opened at $37.16 on Thursday. Dime Community Bancshares, Inc. has a 1 year low of $24.99 and a 1 year high of $38.00. The company has a market cap of $1.64 billion, a P/E ratio of 15.75 and a beta of 1.00. The firm has a 50-day moving average of $35.46 and a 200 day moving average of $32.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio is presently 37.59%.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.