Stieven Capital Advisors L.P. Raises Stake in Dime Community Bancshares, Inc. $DCOM

Stieven Capital Advisors L.P. boosted its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 22.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 319,543 shares of the savings and loans company’s stock after acquiring an additional 59,300 shares during the quarter. Dime Community Bancshares comprises about 1.8% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 24th largest position. Stieven Capital Advisors L.P.’s holdings in Dime Community Bancshares were worth $9,615,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Larson Financial Group LLC raised its stake in 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 raised its stake in 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 position in Dime Community Bancshares during the third quarter worth approximately $169,000. Amundi purchased a new position in Dime Community Bancshares during the third quarter worth approximately $202,000. Finally, ELCO Management Co. LLC purchased a new position in Dime Community Bancshares during the fourth quarter worth approximately $230,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,650 shares of the company’s 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 sale, the director directly owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.40% of the company’s stock.

Dime Community Bancshares Trading Up 0.2%

NASDAQ DCOM opened at $36.95 on Friday. The company’s fifty day simple moving average is $35.15 and its 200-day simple moving average is $32.50. Dime Community Bancshares, Inc. has a 52 week low of $24.57 and a 52 week high of $37.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.63 billion, a P/E ratio of 15.66 and a beta of 1.00.

Dime Community Bancshares Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective for the company. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson boosted their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Stephens boosted their price objective on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Dime Community Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

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.