Dime Community Bancshares, Inc. (NASDAQ:DCOM) was the recipient of a significant decrease in short interest in November. As of November 29th, there was short interest totalling 319,700 shares, a decrease of 47.4% from the November 14th total of 608,300 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 153,300 shares, the days-to-cover ratio is currently 2.1 days.
In other news, EVP Stuart H. Lubow acquired 6,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was bought at an average cost of $19.22 per share, for a total transaction of $124,930.00. Following the completion of the transaction, the executive vice president now owns 18,980 shares of the company’s stock, valued at $364,795.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders bought 8,000 shares of company stock worth $153,295. Insiders own 7.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the business. Aperio Group LLC increased its holdings in shares of Dime Community Bancshares by 13.4% in the 2nd quarter. Aperio Group LLC now owns 28,453 shares of the savings and loans company’s stock worth $540,000 after buying an additional 3,352 shares during the last quarter. BlackRock Inc. grew its position in Dime Community Bancshares by 1.8% in the second quarter. BlackRock Inc. now owns 4,885,362 shares of the savings and loans company’s stock worth $92,773,000 after acquiring an additional 85,990 shares in the last quarter. Rhumbline Advisers grew its position in Dime Community Bancshares by 6.4% in the third quarter. Rhumbline Advisers now owns 100,917 shares of the savings and loans company’s stock worth $2,161,000 after acquiring an additional 6,058 shares in the last quarter. Invesco Ltd. grew its position in Dime Community Bancshares by 1.0% in the second quarter. Invesco Ltd. now owns 927,703 shares of the savings and loans company’s stock worth $17,616,000 after acquiring an additional 9,018 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Dime Community Bancshares by 0.9% in the second quarter. Russell Investments Group Ltd. now owns 286,613 shares of the savings and loans company’s stock valued at $5,438,000 after acquiring an additional 2,632 shares during the last quarter. 72.61% of the stock is owned by institutional investors and hedge funds.
Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Thursday, October 24th. The savings and loans company reported $0.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.22). The company had revenue of $39.56 million during the quarter. Dime Community Bancshares had a return on equity of 6.84% and a net margin of 16.92%. Equities analysts expect that Dime Community Bancshares will post 1.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.14 per share. The ex-dividend date was Tuesday, November 5th. This represents a $0.56 annualized dividend and a yield of 2.80%. Dime Community Bancshares’s payout ratio is presently 41.48%.
Several research analysts have recently weighed in on the stock. BidaskClub cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, October 26th. TheStreet downgraded Dime Community Bancshares from a “b” rating to a “c+” rating in a research report on Thursday, October 31st. Stephens began coverage on Dime Community Bancshares in a research note on Monday, October 28th. They set an “equal weight” rating and a $23.00 price objective for the company. Finally, ValuEngine upgraded Dime Community Bancshares from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.00.
About Dime Community Bancshares
Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides commercial banking and financial services in New York. It offers deposit products, such as savings, money market, and interest bearing and non-interest bearing checking accounts, as well as certificates of deposit.
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