Basswood Capital Management L.L.C. Invests $79.11 Million in Dime Community Bancshares, Inc. $DCOM

Basswood Capital Management L.L.C. purchased a new stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,946,016 shares of the savings and loans company’s stock, valued at approximately $79,106,000. Dime Community Bancshares makes up 3.1% of Basswood Capital Management L.L.C.’s holdings, making the stock its 6th biggest holding. Basswood Capital Management L.L.C. owned 4.41% of Dime Community Bancshares as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter worth $28,000. Larson Financial Group LLC boosted its holdings 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 in the last quarter. Tower Research Capital LLC TRC grew its position 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. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares in the third quarter valued at about $169,000. Finally, Maryland State Retirement & Pension System acquired a new stake in shares of Dime Community Bancshares during the 1st quarter valued at approximately $202,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $40.43 on Thursday. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $41.97. The company has a market capitalization of $1.79 billion, a P/E ratio of 17.13 and a beta of 0.99. The business has a 50 day moving average price of $40.27 and a 200 day moving average price of $37.10. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting analysts’ consensus estimates of $0.79. The company had revenue of $128.41 million for the quarter, compared to the consensus estimate of $123.46 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.During the same period in the previous year, the business earned $0.64 earnings per share. Sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

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

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction on Friday, July 31st. The stock was sold at an average price of $40.76, for a total value of $2,160,280.00. Following the completion of the sale, the director owned 6,440 shares of the company’s stock, valued at $262,494.40. The trade was a 89.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 211,748 shares of company stock worth $8,546,780. Corporate insiders own 7.40% 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.