Wellington Management Group LLP Makes New Investment in Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Wellington Management Group LLP purchased a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,271,303 shares of the savings and loans company’s stock, valued at approximately $39,073,000. Wellington Management Group LLP owned 3.25% of Dime Community Bancshares as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Dime Community Bancshares by 284.3% in the fourth quarter. JPMorgan Chase & Co. now owns 201,778 shares of the savings and loans company’s stock worth $6,202,000 after purchasing an additional 149,279 shares during the period. Prudential Financial Inc. grew its position in Dime Community Bancshares by 39.2% during the fourth quarter. Prudential Financial Inc. now owns 387,102 shares of the savings and loans company’s stock worth $11,898,000 after buying an additional 108,954 shares in the last quarter. Vanguard Group Inc. increased its stake in Dime Community Bancshares by 10.3% in the 4th quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company’s stock worth $84,202,000 after acquiring an additional 256,466 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Dime Community Bancshares in the 4th quarter valued at about $249,000. Finally, Sei Investments Co. boosted its position in shares of Dime Community Bancshares by 73.0% during the 4th quarter. Sei Investments Co. now owns 44,755 shares of the savings and loans company’s stock valued at $1,376,000 after acquiring an additional 18,884 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM opened at $25.17 on Monday. The stock’s 50-day moving average is $29.73 and its 200 day moving average is $31.02. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 42.66 and a beta of 0.96. Dime Community Bancshares, Inc. has a 1-year low of $17.49 and a 1-year high of $37.60. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share 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%. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 17th will be given a dividend of $0.25 per share. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a yield of 3.97%. Dime Community Bancshares’s payout ratio is 169.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on DCOM shares. Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their price target on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Insider Activity

In other news, Director Basswood Capital Management, L sold 9,815 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total transaction of $306,228.00. Following the completion of the sale, the director now owns 37,147 shares of the company’s stock, valued at approximately $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond A. Nielsen sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the transaction, the director now owns 41,185 shares in the company, valued at $1,287,031.25. This represents a 6.79 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 1,729 shares of company stock valued at $48,021. 9.10% of the stock is currently owned by insiders.

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.