Dime Community Bancshares, Inc. $DCOM Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 53.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,053 shares of the savings and loans company’s stock after selling 25,823 shares during the quarter. New York State Teachers Retirement System owned about 0.05% of Dime Community Bancshares worth $746,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Hilton Head Capital Partners LLC acquired a new stake in Dime Community Bancshares during the 4th quarter worth $28,000. Larson Financial Group LLC grew 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 last quarter. Tower Research Capital LLC TRC grew 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 last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Dime Community Bancshares during the third quarter worth about $169,000. Finally, Amundi acquired a new stake in shares of Dime Community Bancshares during the third quarter worth about $202,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. Piper Sandler initiated coverage on Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, DA Davidson increased their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $39.84 on Tuesday. The stock’s 50-day moving average price is $38.31 and its 200 day moving average price is $35.13. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.76 billion, a PE ratio of 16.88 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.62.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Stockholders of record on Friday, July 17th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Dime Community Bancshares’s payout ratio is presently 37.59%.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Basswood Capital Management, L sold 32,751 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the completion of the transaction, the director directly owned 6,785 shares in the company, valued at $264,750.70. This represents a 82.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 78,803 shares of company stock valued at $3,101,749 in the last 90 days. Company insiders own 7.40% of the company’s stock.

Dime Community Bancshares Profile

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.