The Manufacturers Life Insurance Company Takes $18.91 Million Position in Dime Community Bancshares, Inc. $DCOM

The Manufacturers Life Insurance Company acquired a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 465,218 shares of the savings and loans company’s stock, valued at approximately $18,911,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in Dime Community Bancshares in the 2nd quarter worth $332,000. BlackRock Inc. purchased a new stake in shares of Dime Community Bancshares during the second quarter worth about $251,937,000. Deutsche Bank AG acquired a new position in shares of Dime Community Bancshares during the 2nd quarter worth about $1,782,000. Bank of New York Mellon Corp purchased a new position in Dime Community Bancshares in the 2nd quarter valued at about $14,342,000. Finally, Empowered Funds LLC boosted its holdings in Dime Community Bancshares by 7.3% in the 1st quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock worth $6,439,000 after buying an additional 13,023 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 7,170 shares of the stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $41.40, for a total value of $296,838.00. Following the completion of the sale, the director owned 6,099 shares in the company, valued at approximately $252,498.60. This represents a 54.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $41.73, for a total value of $75,114.00. Following the completion of the sale, the director owned 32,400 shares of the company’s stock, valued at $1,352,052. This trade represents a 5.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 211,748 shares of company stock valued at $8,546,780. 7.40% of the stock is owned by corporate insiders.

Dime Community Bancshares Price Performance

NASDAQ:DCOM opened at $40.44 on Friday. The firm has a market cap of $1.79 billion, a P/E ratio of 17.13 and a beta of 0.99. The stock has a 50 day moving average of $40.30 and a two-hundred day moving average of $37.13. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97. 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 issued its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.The firm had revenue of $128.41 million during the quarter, compared to analysts’ expectations of $123.46 million. During the same period in the previous year, the business earned $0.64 earnings per share. On average, analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

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.