USA Financial Formulas Invests $92,000 in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

USA Financial Formulas purchased a new position in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,000 shares of the savings and loans company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in shares of Dime Community Bancshares in the second quarter valued at about $56,000. GAMMA Investing LLC increased its position 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 purchasing an additional 685 shares during the period. Quest Partners LLC raised its stake in shares of Dime Community Bancshares by 9.4% during the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after buying an additional 465 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Dime Community Bancshares by 31.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock valued at $182,000 after purchasing an additional 1,500 shares during the period. Finally, Vontobel Holding Ltd. purchased a new stake in Dime Community Bancshares during the third quarter worth about $235,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dime Community Bancshares news, CTO Michael Fegan sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the completion of the transaction, the chief technology officer now owns 20,155 shares of the company’s stock, valued at $720,742.80. This represents a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Basswood Capital Management, L bought 29,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the purchase, the director now owns 1,044,221 shares of the company’s stock, valued at $33,415,072. This trade represents a 2.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.10% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Stock Performance

DCOM opened at $32.05 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 21.37 and a beta of 1.05. The business has a 50 day moving average price of $33.33 and a two-hundred day moving average price of $28.46. Dime Community Bancshares, Inc. has a 1-year low of $17.29 and a 1-year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results 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 5.58% and a net margin of 9.65%. The company had revenue of $171.87 million during the quarter, compared to analysts’ expectations of $86.65 million. During the same period in the prior year, the business posted $0.56 EPS. Research analysts predict that Dime Community Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.12%. The ex-dividend date is Friday, January 17th. Dime Community Bancshares’s payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

DCOM has been the subject of several research analyst reports. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $30.00 to $39.00 in a research note on Monday, November 18th. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Raymond James lifted their price objective on Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $34.20.

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.