Short Interest in Dime Community Bancshares, Inc. (NASDAQ:DCOM) Drops By 8.5%

Dime Community Bancshares, Inc. (NASDAQ:DCOM) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 2,600,000 shares, a decline of 8.5% from the October 15th total of 2,840,000 shares. Based on an average daily trading volume, of 199,400 shares, the days-to-cover ratio is presently 13.0 days.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Raymond James boosted their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 2nd. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Stephens upgraded 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 report on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $31.40.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L acquired 29,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were acquired at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the transaction, the director now owns 1,044,221 shares in the company, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 9.10% of the company’s stock.

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Dime Community Bancshares by 120.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after purchasing an additional 263,225 shares in the last quarter. Stieven Capital Advisors L.P. bought a new stake in Dime Community Bancshares during the first quarter worth $4,702,000. The Manufacturers Life Insurance Company grew its position in shares of Dime Community Bancshares by 1,546.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 217,719 shares of the savings and loans company’s stock valued at $4,441,000 after acquiring an additional 204,493 shares during the period. Royce & Associates LP increased its stake in shares of Dime Community Bancshares by 47.4% during the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after purchasing an additional 162,004 shares during the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Dime Community Bancshares by 15.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after purchasing an additional 143,402 shares during the period. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Trading Up 4.7 %

DCOM stock traded up $1.59 during midday trading on Monday, hitting $35.29. 433,862 shares of the company’s stock were exchanged, compared to its average volume of 232,254. Dime Community Bancshares has a one year low of $17.29 and a one year high of $36.05. The stock’s fifty day moving average price is $29.47 and its 200-day moving average price is $24.20. The company has a market cap of $1.38 billion, a PE ratio of 22.67 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The business had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Research analysts predict that Dime Community Bancshares will post 1.48 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s payout ratio is 66.67%.

About Dime Community Bancshares

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.