Saybrook Capital NC Sells 588 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Saybrook Capital NC cut its stake in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 2.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,298 shares of the savings and loans company’s stock after selling 588 shares during the period. Dime Community Bancshares makes up approximately 0.2% of Saybrook Capital NC’s holdings, making the stock its 29th largest holding. Saybrook Capital NC’s holdings in Dime Community Bancshares were worth $900,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Quest Partners LLC boosted its holdings in Dime Community Bancshares by 9.4% in the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock valued at $155,000 after purchasing an additional 465 shares during the period. GAMMA Investing LLC boosted its holdings in Dime Community Bancshares by 17.4% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after purchasing an additional 512 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 654 shares in the last quarter. KBC Group NV raised its stake in shares of Dime Community Bancshares by 50.8% in the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after buying an additional 909 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Dime Community Bancshares by 9.4% in the 4th quarter. Amalgamated Bank now owns 11,395 shares of the savings and loans company’s stock valued at $350,000 after buying an additional 978 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $39.00 in a research note on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and an average target price of $36.40.

Dime Community Bancshares Trading Down 1.0 %

Shares of Dime Community Bancshares stock opened at $28.44 on Friday. The stock has a market capitalization of $1.24 billion, a P/E ratio of 48.20 and a beta of 1.04. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. The company has a 50-day simple moving average of $31.08 and a 200 day simple moving average of $30.66. Dime Community Bancshares, Inc. has a 12-month low of $17.49 and a 12-month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 169.49%.

Insiders Place Their Bets

In related news, Director Basswood Capital Management, L acquired 1,043 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $31.23 per share, with a total value of $32,572.89. Following the acquisition, the director now directly owns 1,043 shares in the company, valued at $32,572.89. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CTO Michael Fegan sold 2,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $35.76, for a total transaction of $71,520.00. Following the sale, the chief technology officer now directly owns 20,155 shares in the company, valued at approximately $720,742.80. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 1,729 shares of company stock valued at $48,021 and have sold 14,815 shares valued at $471,498. Insiders own 9.10% of the company’s stock.

Dime Community Bancshares 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.