Legal & General Group Plc Makes New Investment in Dime Community Bancshares, Inc. $DCOM

Legal & General Group Plc purchased a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 96,048 shares of the savings and loans company’s stock, valued at approximately $3,904,000. Legal & General Group Plc owned 0.22% of Dime Community Bancshares as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Dime Community Bancshares in the 2nd quarter worth approximately $251,937,000. Deutsche Bank AG acquired a new position in Dime Community Bancshares during the 2nd quarter valued at approximately $1,782,000. Rockefeller Capital Management L.P. lifted its holdings in shares of Dime Community Bancshares by 40,939.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 37,756 shares of the savings and loans company’s stock worth $1,136,000 after purchasing an additional 37,664 shares during the period. Bank of America Corp DE lifted its position in Dime Community Bancshares by 19.8% during the first quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock valued at $11,120,000 after purchasing an additional 54,382 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $14,342,000. 75.27% of the stock is currently owned by institutional investors.

Dime Community Bancshares Stock Up 0.9%

Shares of DCOM opened at $41.30 on Friday. 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 firm has a market cap of $1.82 billion, a P/E ratio of 17.50 and a beta of 0.99. The stock’s 50 day moving average is $40.41 and its two-hundred day moving average is $37.33. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $128.41 million for the quarter, compared to analyst estimates of $123.46 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.During the same quarter in the previous year, the company posted $0.64 earnings per share. Analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is 36.10%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 7,170 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.40, for a total value of $296,838.00. Following the completion of the sale, the director directly owned 6,099 shares of the company’s stock, valued at $252,498.60. This trade represents a 54.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Raymond A. Nielsen sold 1,800 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $41.73, for a total transaction of $75,114.00. Following the completion of the sale, the director owned 32,400 shares of the company’s stock, valued at $1,352,052. This trade represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 211,748 shares of company stock valued at $8,546,780 in the last 90 days. Company 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.