Mirae Asset Global Investments Co. Ltd. Raises Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,102 shares of the savings and loans company’s stock after buying an additional 1,707 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Dime Community Bancshares were worth $434,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DCOM. Brown Advisory Inc. lifted its holdings in Dime Community Bancshares by 11.1% in the third quarter. Brown Advisory Inc. now owns 769,199 shares of the savings and loans company’s stock worth $15,353,000 after buying an additional 77,113 shares during the period. American Century Companies Inc. lifted its holdings in Dime Community Bancshares by 14.2% in the third quarter. American Century Companies Inc. now owns 369,130 shares of the savings and loans company’s stock worth $7,368,000 after buying an additional 46,033 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Dime Community Bancshares by 9.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 273,392 shares of the savings and loans company’s stock worth $5,457,000 after buying an additional 23,201 shares during the period. First Eagle Investment Management LLC purchased a new stake in Dime Community Bancshares in the third quarter worth about $455,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in Dime Community Bancshares in the third quarter worth about $389,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Basswood Capital Management, L bought 27,068 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was acquired at an average price of $23.00 per share, with a total value of $622,564.00. Following the transaction, the director now owns 1,015,221 shares in the company, valued at approximately $23,350,083. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.30% of the stock is currently owned by insiders.

Dime Community Bancshares Price Performance

DCOM stock opened at $19.08 on Friday. The firm has a market capitalization of $741.83 million, a price-to-earnings ratio of 10.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.02. The firm has a 50 day moving average price of $18.62 and a 200-day moving average price of $21.02. Dime Community Bancshares, Inc. has a 52-week low of $15.57 and a 52-week high of $27.91.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $167.63 million for the quarter, compared to the consensus estimate of $81.01 million. Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. During the same period last year, the business earned $0.99 EPS. Equities research analysts forecast that Dime Community Bancshares, Inc. will post 1.69 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend was Tuesday, April 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

Wall Street Analysts Forecast Growth

DCOM has been the subject of several research analyst reports. DA Davidson restated a “buy” rating and issued a $28.00 price objective on shares of Dime Community Bancshares in a report on Thursday, March 14th. Keefe, Bruyette & Woods lowered their target price on shares of Dime Community Bancshares from $30.00 to $25.50 and set an “outperform” rating for the company in a report on Friday, April 5th. Raymond James lowered their target price on shares of Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, March 13th. Finally, StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, March 21st.

Dime Community Bancshares Profile

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.