Dime Community Bancshares, Inc. (NASDAQ:DCOM) Position Reduced by Saybrook Capital NC

Saybrook Capital NC cut its position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 13.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 29,886 shares of the savings and loans company’s stock after selling 4,550 shares during the quarter. Dime Community Bancshares accounts for 0.2% of Saybrook Capital NC’s portfolio, making the stock its 27th largest position. Saybrook Capital NC owned about 0.08% of Dime Community Bancshares worth $861,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kimelman & Baird LLC bought a new stake in Dime Community Bancshares during the second quarter worth approximately $56,000. GAMMA Investing LLC raised its holdings in Dime Community Bancshares by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after buying an additional 685 shares during the period. Nisa Investment Advisors LLC lifted its stake in Dime Community Bancshares by 496.9% during the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after buying an additional 4,000 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Dime Community Bancshares in the second quarter worth about $101,000. Finally, Vontobel Holding Ltd. purchased a new position in shares of Dime Community Bancshares in the third quarter worth approximately $235,000. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on DCOM. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Raymond James lifted their price target on Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Dime Community Bancshares has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $30.84 on Wednesday. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $31.75. The business’s 50-day moving average price is $27.58 and its two-hundred day moving average price is $22.94. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $1.20 billion, a P/E ratio of 17.33 and a beta of 1.00.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The firm had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Analysts anticipate that Dime Community Bancshares, Inc. will post 1.61 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is currently 56.18%.

Dime Community Bancshares Company 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.