Raymond James & Associates Sells 2,361 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Raymond James & Associates reduced its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 7.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,227 shares of the savings and loans company’s stock after selling 2,361 shares during the period. Raymond James & Associates owned 0.08% of Dime Community Bancshares worth $787,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DCOM. Brown Advisory Inc. lifted its position in shares of Dime Community Bancshares by 11.1% during the third quarter. Brown Advisory Inc. now owns 769,199 shares of the savings and loans company’s stock worth $15,353,000 after acquiring an additional 77,113 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Dime Community Bancshares by 14.2% during the 3rd quarter. American Century Companies Inc. now owns 369,130 shares of the savings and loans company’s stock valued at $7,368,000 after purchasing an additional 46,033 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Dime Community Bancshares by 9.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,392 shares of the savings and loans company’s stock worth $5,457,000 after purchasing an additional 23,201 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Dime Community Bancshares in the 3rd quarter worth about $455,000. Finally, Illinois Municipal Retirement Fund purchased a new position in Dime Community Bancshares during the 3rd quarter valued at about $389,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Trading Up 1.9 %

NASDAQ DCOM opened at $19.43 on Wednesday. The firm has a market cap of $755.44 million, a PE ratio of 8.48 and a beta of 1.02. Dime Community Bancshares, Inc. has a 1-year low of $15.57 and a 1-year high of $27.91. The stock has a 50-day moving average of $18.62 and a 200-day moving average of $21.05. The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 1.36.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Friday, January 26th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate of $81.01 million. Dime Community Bancshares had a return on equity of 9.85% and a net margin of 14.89%. During the same quarter in the prior year, the business posted $0.99 EPS. As a group, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.78 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Wednesday, April 17th will be paid a $0.25 dividend. The ex-dividend date is Tuesday, April 16th. This represents a $1.00 annualized dividend and a dividend yield of 5.15%. Dime Community Bancshares’s payout ratio is presently 43.67%.

Insider Activity at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L acquired 27,068 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was acquired at an average price of $23.00 per share, for a total transaction of $622,564.00. Following the acquisition, the director now owns 1,015,221 shares in the company, valued at approximately $23,350,083. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 15.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DCOM. DA Davidson reissued a “buy” rating and issued a $28.00 price target on shares of Dime Community Bancshares in a report on Thursday, March 14th. Keefe, Bruyette & Woods cut their price target 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. StockNews.com cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, Raymond James dropped their price objective on Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, March 13th.

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.