Louisiana State Employees Retirement System Takes Position in Dime Community Bancshares, Inc. $DCOM

Louisiana State Employees Retirement System purchased a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,100 shares of the savings and loans company’s stock, valued at approximately $612,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hilton Head Capital Partners LLC acquired a new stake in Dime Community Bancshares during the 4th quarter worth approximately $28,000. Larson Financial Group LLC increased its position in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in shares of Dime Community Bancshares during the third quarter worth $169,000. Finally, Amundi bought a new stake in shares of Dime Community Bancshares in the third quarter worth $202,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

DCOM has been the subject of several analyst reports. Piper Sandler assumed coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price for the company. Keefe, Bruyette & Woods increased their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, DA Davidson raised their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 1,650 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the transaction, the director owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the sale, the director owned 6,785 shares of the company’s stock, valued at approximately $264,750.70. This represents a 82.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 78,803 shares of company stock valued at $3,101,749. Insiders own 7.40% of the company’s stock.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock opened at $39.66 on Wednesday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.80 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.62. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $38.03 and its two-hundred day moving average price is $34.91.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 37.59%.

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.