KLP Kapitalforvaltning AS Takes $249,000 Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

KLP Kapitalforvaltning AS purchased a new position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the fourth quarter, Holdings Channel reports. The firm purchased 8,092 shares of the savings and loans company’s stock, valued at approximately $249,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 654 shares in the last quarter. KBC Group NV boosted its stake in Dime Community Bancshares by 50.8% in the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after buying an additional 909 shares in the last quarter. USA Financial Formulas bought a new position in Dime Community Bancshares in the fourth quarter valued at about $92,000. GAMMA Investing LLC raised its stake in Dime Community Bancshares by 17.4% during the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after acquiring an additional 512 shares in the last quarter. Finally, Savant Capital LLC bought a new position in shares of Dime Community Bancshares in the fourth quarter worth about $209,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DCOM. Keefe, Bruyette & Woods decreased their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $36.00 to $38.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Activity

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

Dime Community Bancshares Stock Down 2.4 %

Shares of NASDAQ DCOM opened at $25.17 on Monday. The company has a 50 day simple moving average of $29.73 and a 200 day simple moving average of $31.02. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares, Inc. has a 1 year low of $17.49 and a 1 year high of $37.60. The firm has a market cap of $1.10 billion, a PE ratio of 42.66 and a beta of 0.96.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (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, research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be given a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.97%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 169.49%.

Dime Community Bancshares Company 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.