Sei Investments Co. Boosts Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Sei Investments Co. increased its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 73.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,755 shares of the savings and loans company’s stock after acquiring an additional 18,884 shares during the quarter. Sei Investments Co.’s holdings in Dime Community Bancshares were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Dime Community Bancshares by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 316,611 shares of the savings and loans company’s stock valued at $9,118,000 after purchasing an additional 5,052 shares during the last quarter. Barclays PLC lifted its holdings in Dime Community Bancshares by 91.0% in the third quarter. Barclays PLC now owns 75,732 shares of the savings and loans company’s stock valued at $2,181,000 after acquiring an additional 36,076 shares during the last quarter. Geode Capital Management LLC grew its position in Dime Community Bancshares by 1.2% in the third quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock worth $24,773,000 after acquiring an additional 9,978 shares during the period. JPMorgan Chase & Co. increased its stake in Dime Community Bancshares by 10.6% during the third quarter. JPMorgan Chase & Co. now owns 52,499 shares of the savings and loans company’s stock worth $1,512,000 after acquiring an additional 5,017 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Dime Community Bancshares by 17.4% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after purchasing an additional 512 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

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

Dime Community Bancshares Price Performance

DCOM opened at $25.17 on Monday. The stock’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 12-month low of $17.49 and a 12-month high of $37.60. The firm 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 current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69.

Dime Community Bancshares (NASDAQ:DCOM) last issued 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 return on equity of 5.43% and a net margin of 4.50%. As a group, sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The firm 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 annualized dividend and a yield of 3.97%. Dime Community Bancshares’s dividend payout ratio is presently 169.49%.

Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the sale, the director now directly owns 41,185 shares in the company, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Basswood Capital Management, L bought 1,043 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $31.23 per share, for a total transaction of $32,572.89. Following the acquisition, the director now owns 1,043 shares of the company’s stock, valued at $32,572.89. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 1,729 shares of company stock worth $48,021 over the last 90 days. Corporate insiders own 9.10% of the company’s stock.

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.