BlackRock Inc. Acquires Shares of 6,197,711 Dime Community Bancshares, Inc. $DCOM

BlackRock Inc. acquired a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,197,711 shares of the savings and loans company’s stock, valued at approximately $251,937,000. BlackRock Inc. owned 0.14% of Dime Community Bancshares at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in Dime Community Bancshares by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock valued at $128,281,000 after buying an additional 857,001 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Dime Community Bancshares in the fourth quarter valued at approximately $13,321,000. Bank of New York Mellon Corp bought a new position in shares of Dime Community Bancshares during the second quarter worth approximately $14,342,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in 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 worth $12,900,000 after purchasing an additional 212,934 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Dime Community Bancshares by 271.4% in 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 during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $40.43 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 17.13 and a beta of 0.99. The stock’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $37.10. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $41.97.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.79. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The company had revenue of $128.41 million during the quarter, compared to analysts’ expectations of $123.46 million. During the same quarter in the previous year, the business posted $0.64 earnings per share. On average, equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. Dime Community Bancshares’s payout ratio is currently 36.10%.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock in a transaction that occurred on Thursday, August 13th. The shares were 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 in the company, valued at approximately $252,498.60. The trade was a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Raymond A. Nielsen sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.73, for a total value of $75,114.00. Following the completion of the sale, the director owned 32,400 shares of the company’s stock, valued at approximately $1,352,052. This trade represents a 5.26% decrease in their ownership of the stock. 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 three months. Insiders own 7.40% of the company’s stock.

Dime Community Bancshares Profile

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.