CenterBook Partners LP Has $995,000 Holdings in Dime Community Bancshares, Inc. $DCOM

CenterBook Partners LP grew its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 91.3% in the 4th quarter, HoldingsChannel reports. The fund owned 33,083 shares of the savings and loans company’s stock after purchasing an additional 15,785 shares during the quarter. CenterBook Partners LP’s holdings in Dime Community Bancshares were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of DCOM. Wellington Management Group LLP lifted its position in Dime Community Bancshares by 32.7% during the third quarter. Wellington Management Group LLP now owns 3,406,229 shares of the savings and loans company’s stock worth $101,608,000 after acquiring an additional 839,183 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Dime Community Bancshares by 97.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock worth $12,900,000 after acquiring an additional 212,934 shares during the last quarter. Bank of America Corp DE lifted its position in Dime Community Bancshares by 271.4% during the third quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock worth $7,935,000 after acquiring an additional 194,383 shares during the last quarter. Penn Capital Management Company LLC lifted its position in Dime Community Bancshares by 20.3% during the third quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after acquiring an additional 98,736 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Dime Community Bancshares by 132.3% during the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock worth $4,726,000 after acquiring an additional 96,523 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. DA Davidson raised 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 report on Monday, April 27th. Keefe, Bruyette & Woods raised 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 report on Friday, April 24th. Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler assumed 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 on the stock. Finally, Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Stock Up 0.8%

Shares of DCOM opened at $39.26 on Thursday. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $39.50. The firm’s 50 day moving average is $36.44 and its 200-day moving average is $33.55. The stock has a market capitalization of $1.73 billion, a PE ratio of 16.64 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

Insider Activity at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 1,650 shares of the firm’s 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 transaction, the director directly owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.40% of the company’s stock.

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.