Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stake Raised by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 12.8% in the 2nd quarter, Holdings Channel reports. The fund owned 211,604 shares of the savings and loans company’s stock after purchasing an additional 24,000 shares during the period. Renaissance Technologies LLC’s holdings in Dime Community Bancshares were worth $4,317,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Dime Community Bancshares by 6.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 290,838 shares of the savings and loans company’s stock worth $7,832,000 after purchasing an additional 17,446 shares during the last quarter. BHZ Capital Management LP increased its position in Dime Community Bancshares by 28.7% in the 4th quarter. BHZ Capital Management LP now owns 83,338 shares of the savings and loans company’s stock worth $2,244,000 after purchasing an additional 18,592 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Dime Community Bancshares in the 4th quarter worth about $3,016,000. Hennion & Walsh Asset Management Inc. increased its position in Dime Community Bancshares by 24.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,837 shares of the savings and loans company’s stock worth $247,000 after purchasing an additional 2,523 shares during the last quarter. Finally, Salzhauer Michael increased its position in Dime Community Bancshares by 446.0% in the 1st quarter. Salzhauer Michael now owns 129,915 shares of the savings and loans company’s stock worth $2,502,000 after purchasing an additional 106,121 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Up 0.4 %

Shares of DCOM stock opened at $28.09 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day simple moving average is $24.98 and its 200 day simple moving average is $21.23. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 15.78 and a beta of 1.00. Dime Community Bancshares, Inc. has a twelve month low of $17.29 and a twelve month high of $30.12.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Tuesday, July 23rd. The savings and loans company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $171.23 million for the quarter, compared to the consensus estimate of $82.19 million. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. During the same period in the previous year, the business posted $0.68 EPS. As a group, research analysts predict that Dime Community Bancshares, Inc. will post 1.6 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend is Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is currently 56.18%.

Analyst Ratings Changes

DCOM has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Piper Sandler downgraded Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Finally, Raymond James raised Dime Community Bancshares from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $29.00 to $35.00 in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $29.25.

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.