Royce & Associates LP Lowers Stock Position in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Royce & Associates LP cut its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 14.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 428,908 shares of the savings and loans company’s stock after selling 74,745 shares during the quarter. Royce & Associates LP’s holdings in Dime Community Bancshares were worth $13,182,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in shares of Dime Community Bancshares by 58.0% during 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 position in Dime Community Bancshares by 50.8% during 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 purchased a new stake in Dime Community Bancshares during the 4th quarter worth $92,000. GAMMA Investing LLC boosted its position in Dime Community Bancshares by 17.4% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after purchasing an additional 512 shares during the period. Finally, Quest Partners LLC boosted its position in Dime Community Bancshares by 9.4% during the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after purchasing an additional 465 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DCOM shares. Piper Sandler raised 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 research report on Thursday, January 23rd. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.50.

Insider Activity

In other news, 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 value of $93,750.00. Following the sale, the director now owns 41,185 shares in the company, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Basswood Capital Management, L bought 1,043 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $31.23 per share, for a total transaction of $32,572.89. Following the purchase, the director now owns 1,043 shares in the company, valued at approximately $32,572.89. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 1,729 shares of company stock worth $48,021. 9.10% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $28.34 on Tuesday. Dime Community Bancshares, Inc. has a 12 month low of $17.49 and a 12 month 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 firm has a market capitalization of $1.24 billion, a P/E ratio of 48.03 and a beta of 1.04. The company’s fifty day moving average price is $30.70 and its two-hundred day moving average price is $30.82.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. On average, research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

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.