Rockefeller Capital Management L.P. Grows Stake in Dime Community Bancshares, Inc. $DCOM

Rockefeller Capital Management L.P. raised its holdings in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 40,939.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,756 shares of the savings and loans company’s stock after buying an additional 37,664 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.09% of Dime Community Bancshares worth $1,136,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Dime Community Bancshares by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after buying an additional 857,001 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Dime Community Bancshares during the fourth quarter worth about $13,321,000. Hotchkis & Wiley Capital Management LLC grew its holdings in Dime Community Bancshares by 97.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock worth $12,900,000 after purchasing an additional 212,934 shares during the period. Bank of America Corp DE grew its holdings in Dime Community Bancshares by 271.4% in the third quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock worth $7,935,000 after purchasing an additional 194,383 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Dime Community Bancshares by 19.8% during the fourth quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock valued at $18,027,000 after purchasing an additional 99,011 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DCOM has been the subject of a number of analyst reports. DA Davidson raised their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Finally, Piper Sandler assumed coverage on Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Raymond A. Nielsen sold 1,650 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the transaction, the director owned 6,785 shares in the company, valued at approximately $264,750.70. This trade represents a 82.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 78,803 shares of company stock worth $3,101,749 over the last three months. Insiders own 7.40% of the company’s stock.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $40.32 on Friday. The company has a 50 day moving average price of $37.79 and a 200-day moving average price of $34.73. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $41.62. The firm has a market capitalization of $1.78 billion, a PE ratio of 17.08 and a beta of 0.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be paid a dividend of $0.25 per share. The ex-dividend date is Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. Dime Community Bancshares’s payout ratio is currently 37.59%.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.