Wellington Management Group LLP Acquires Shares of 1,271,303 Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Wellington Management Group LLP bought a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 1,271,303 shares of the savings and loans company’s stock, valued at approximately $39,073,000.

A number of other large investors have also recently modified their holdings of DCOM. Stieven Capital Advisors L.P. grew its stake in Dime Community Bancshares by 86.3% in the fourth quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company’s stock worth $19,060,000 after purchasing an additional 287,195 shares during the period. Vanguard Group Inc. grew its position in shares of Dime Community Bancshares by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company’s stock worth $84,202,000 after buying an additional 256,466 shares during the period. New York State Common Retirement Fund increased its stake in shares of Dime Community Bancshares by 433.6% in the 4th quarter. New York State Common Retirement Fund now owns 277,168 shares of the savings and loans company’s stock worth $8,519,000 after acquiring an additional 225,227 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Dime Community Bancshares during the 4th quarter valued at about $4,850,000. Finally, JPMorgan Chase & Co. boosted its stake in Dime Community Bancshares by 284.3% during the fourth quarter. JPMorgan Chase & Co. now owns 201,778 shares of the savings and loans company’s stock worth $6,202,000 after acquiring an additional 149,279 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DCOM. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their target price for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods reduced their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Activity

In other news, Director Raymond A. Nielsen sold 3,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the transaction, the director now directly owns 41,185 shares of the company’s stock, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Basswood Capital Management, L sold 9,815 shares of Dime Community Bancshares stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total value of $306,228.00. Following the completion of the sale, the director now directly owns 37,147 shares of the company’s stock, valued at $1,158,986.40. The trade was a 20.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 1,729 shares of company stock valued at $48,021 in the last 90 days. 9.10% of the stock is currently owned by insiders.

Dime Community Bancshares Trading Down 2.4 %

NASDAQ:DCOM opened at $25.17 on Monday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 42.66 and a beta of 0.96. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average price is $29.73 and its 200-day moving average price is $31.02. Dime Community Bancshares, Inc. has a 52 week low of $17.49 and a 52 week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. On average, equities research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, April 17th. Dime Community Bancshares’s dividend payout ratio is currently 169.49%.

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.