Verition Fund Management LLC Increases Stock Position in Dime Community Bancshares, Inc. $DCOM

Verition Fund Management LLC boosted its stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 19.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 599,103 shares of the savings and loans company’s stock after buying an additional 99,011 shares during the quarter. Verition Fund Management LLC owned 1.37% of Dime Community Bancshares worth $18,027,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares during the fourth quarter worth about $28,000. Larson Financial Group LLC boosted its stake in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares during the period. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the third quarter worth about $169,000. Tower Research Capital LLC TRC boosted its stake in 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 worth $156,000 after buying an additional 4,446 shares during the period. Finally, Amundi purchased a new position in Dime Community Bancshares during the third quarter worth about $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DCOM shares. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Keefe, Bruyette & Woods increased their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. DA Davidson increased their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Finally, Piper Sandler started coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Insiders Place Their Bets

In related news, Director Raymond A. Nielsen sold 1,650 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director owned 35,607 shares of the company’s stock, valued at $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is currently owned by company insiders.

Dime Community Bancshares Stock Down 2.2%

Shares of DCOM opened at $39.21 on Tuesday. The stock has a market capitalization of $1.73 billion, a PE ratio of 16.61 and a beta of 1.00. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $40.76. 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 company’s 50-day simple moving average is $36.77 and its 200-day simple moving average is $33.80.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio is currently 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.