Dime Community Bancshares, Inc. (DCOM) to Distribute Quarterly Dividend of $0.25 on July 24th

Dime Community Bancshares, Inc. (NASDAQ:DCOM) declared a quarterly dividend on Thursday, June 25th. Investors of record on Friday, July 17th will be given a dividend of 0.25 per share by the savings and loans company on Friday, July 24th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, July 17th.

Dime Community Bancshares has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Dime Community Bancshares has a dividend payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dime Community Bancshares to earn $3.98 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 25.1%.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $40.53 on Friday. The company has a market capitalization of $1.79 billion, a PE ratio of 17.17 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares has a 52-week low of $25.63 and a 52-week high of $40.99. The company has a 50-day simple moving average of $37.47 and a 200 day simple moving average of $34.42.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Raymond A. Nielsen sold 1,650 shares of the business’s stock in a transaction 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 sale, the director owned 35,607 shares of the company’s stock, valued at $1,320,663.63. The trade was a 4.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Basswood Capital Management, L sold 32,751 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the sale, the director owned 6,785 shares in the company, valued at approximately $264,750.70. This represents a 82.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,803 shares of company stock worth $3,101,749 in the last three months. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Dime Community Bancshares by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after acquiring an additional 857,001 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Dime Community Bancshares in the 4th quarter valued at $13,321,000. Hotchkis & Wiley Capital Management LLC grew its position in shares of Dime Community Bancshares by 97.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock valued at $12,900,000 after purchasing an additional 212,934 shares in the last quarter. Bank of America Corp DE grew its position in shares of Dime Community Bancshares by 271.4% during the 3rd quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock valued at $7,935,000 after purchasing an additional 194,383 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Dime Community Bancshares by 19.8% during the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock valued at $18,027,000 after purchasing an additional 99,011 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors.

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.