Cresset Asset Management LLC Sells 389 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Cresset Asset Management LLC decreased its holdings in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 35,631 shares of the savings and loans company’s stock after selling 389 shares during the period. Cresset Asset Management LLC’s holdings in Dime Community Bancshares were worth $1,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sterling Capital Management LLC raised its position in shares of Dime Community Bancshares by 861.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company’s stock valued at $35,000 after acquiring an additional 1,017 shares during the last quarter. Parkside Financial Bank & Trust grew 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 buying an additional 654 shares during the period. KBC Group NV boosted its stake in Dime Community Bancshares by 50.8% in the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 909 shares during the period. USA Financial Formulas acquired a new position in Dime Community Bancshares in the 4th quarter worth $92,000. Finally, Savant Capital LLC acquired a new position in Dime Community Bancshares in the 4th quarter worth $209,000. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

DCOM has been the subject of a number of research analyst reports. Stephens reduced their target price on shares of Dime Community Bancshares from $36.00 to $32.50 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Keefe, Bruyette & Woods reduced 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. StockNews.com raised shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Finally, Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $36.88.

Dime Community Bancshares Trading Up 0.3%

Dime Community Bancshares stock opened at $26.66 on Monday. The firm has a 50-day moving average of $26.61 and a 200-day moving average of $30.35. Dime Community Bancshares, Inc. has a one year low of $17.49 and a one year high of $37.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 45.19 and a beta of 1.09.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, April 22nd. The savings and loans company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $103.83 million during the quarter, compared to the consensus estimate of $105.83 million. Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. During the same period in the prior year, the business posted $0.38 EPS. On average, equities analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th will be issued a $0.3438 dividend. This represents a $1.38 dividend on an annualized basis and a dividend yield of 5.16%. This is a boost from Dime Community Bancshares’s previous quarterly dividend of $0.25. Dime Community Bancshares’s dividend payout ratio is presently 158.73%.

Insider Activity

In other news, Director Basswood Capital Management, L sold 9,815 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $31.20, for a total value of $306,228.00. Following the sale, the director now directly owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. This represents a 20.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the sale, the director now directly owns 41,185 shares in the company, valued at approximately $1,287,031.25. The trade was a 6.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.10% of the stock is owned by insiders.

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.