Penn Capital Management Company LLC Has $17.49 Million Stock Position in Dime Community Bancshares, Inc. $DCOM

Penn Capital Management Company LLC increased its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 20.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 584,810 shares of the savings and loans company’s stock after acquiring an additional 98,736 shares during the quarter. Dime Community Bancshares comprises approximately 1.3% of Penn Capital Management Company LLC’s holdings, making the stock its 19th largest holding. Penn Capital Management Company LLC owned 1.33% of Dime Community Bancshares worth $17,487,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of Dime Community Bancshares by 15.1% in the 3rd quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company’s stock valued at $133,000 after purchasing an additional 584 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Dime Community Bancshares during the 3rd quarter worth about $169,000. Finally, Amundi bought a new position in shares of Dime Community Bancshares in the third quarter valued at approximately $202,000. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $32.38 on Wednesday. The business’s 50-day moving average price is $33.02 and its 200-day moving average price is $30.66. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.72 and a beta of 1.09. Dime Community Bancshares, Inc. has a 12 month low of $23.25 and a 12 month high of $36.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.09. The firm had revenue of $123.85 million during the quarter, compared to analysts’ expectations of $118.14 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period in the prior year, the company posted $0.42 EPS. Equities research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Analyst Ratings Changes

DCOM has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on Dime Community Bancshares in a research report on Monday. They set an “overweight” rating and a $37.00 price target on the stock. Keefe, Bruyette & Woods lifted their target price on Dime Community Bancshares from $34.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. DA Davidson lifted their price objective on shares of Dime Community Bancshares from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Stephens increased their price target on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.00.

Insider Activity

In other Dime Community Bancshares news, CEO Stuart H. Lubow sold 19,550 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $35.07, for a total transaction of $685,618.50. Following the completion of the sale, the chief executive officer owned 202,648 shares in the company, valued at approximately $7,106,865.36. The trade was a 8.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Basswood Capital Management, L sold 20,339 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $33.96, for a total value of $690,712.44. Following the completion of the sale, the director directly owned 1,013,819 shares of the company’s stock, valued at approximately $34,429,293.24. This trade represents a 1.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 52,865 shares of company stock valued at $1,829,983. Corporate insiders own 7.10% of the company’s stock.

Dime Community Bancshares Company 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.