Charles Schwab Investment Management Inc. Has $9.12 Million Stock Holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Charles Schwab Investment Management Inc. lifted its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 1.6% during the third quarter, HoldingsChannel.com reports. The fund owned 316,611 shares of the savings and loans company’s stock after purchasing an additional 5,052 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Dime Community Bancshares were worth $9,118,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Rhumbline Advisers raised its position in shares of Dime Community Bancshares by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 109,328 shares of the savings and loans company’s stock valued at $2,230,000 after acquiring an additional 428 shares during the period. Quest Partners LLC raised its holdings in 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 during the period. 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 raised its holdings in Dime Community Bancshares by 31.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock worth $182,000 after buying an additional 1,500 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Dime Community Bancshares by 4.5% during the 2nd quarter. Victory Capital Management Inc. now owns 46,000 shares of the savings and loans company’s stock worth $938,000 after buying an additional 2,000 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Price Performance

NASDAQ DCOM opened at $34.80 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $37.60. The company has a market capitalization of $1.36 billion, a PE ratio of 23.20 and a beta of 1.03. The firm’s 50 day moving average is $32.19 and its 200-day moving average is $26.01.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). The firm had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same period in the prior year, the business posted $0.56 earnings per share. Equities research analysts anticipate that Dime Community Bancshares, Inc. will post 1.49 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 Thursday, October 24th. Investors of record on Thursday, October 17th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.87%. Dime Community Bancshares’s payout ratio is 66.67%.

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 on Monday, December 9th. The shares were sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at $720,742.80. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Basswood Capital Management, L acquired 29,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the acquisition, the director now owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. The trade was 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 owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. 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 report on Wednesday, December 4th. Raymond James raised their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $39.00 in a report on Monday, November 18th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Moderate Buy” and a consensus price target 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.