Dimensional Fund Advisors LP Increases Holdings in Dime Community Bancshares, Inc. (DCOM)
Dimensional Fund Advisors LP raised its position in Dime Community Bancshares, Inc. (NASDAQ:DCOM) by 8.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,799,743 shares of the savings and loans company’s stock after acquiring an additional 208,581 shares during the period. Dimensional Fund Advisors LP owned approximately 7.43% of Dime Community Bancshares worth $54,875,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Dime Community Bancshares by 1.7% in the first quarter. Vanguard Group Inc. now owns 2,989,172 shares of the savings and loans company’s stock valued at $60,680,000 after acquiring an additional 50,236 shares during the period. Northern Trust Corp grew its stake in Dime Community Bancshares by 5.0% in the second quarter. Northern Trust Corp now owns 1,354,196 shares of the savings and loans company’s stock valued at $26,542,000 after acquiring an additional 64,023 shares during the period. LSV Asset Management grew its stake in Dime Community Bancshares by 17.5% in the second quarter. LSV Asset Management now owns 1,067,443 shares of the savings and loans company’s stock valued at $20,921,000 after acquiring an additional 159,121 shares during the period. State Street Corp grew its stake in Dime Community Bancshares by 9.6% in the first quarter. State Street Corp now owns 831,409 shares of the savings and loans company’s stock valued at $16,877,000 after acquiring an additional 72,853 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in Dime Community Bancshares by 1.6% in the second quarter. Russell Investments Group Ltd. now owns 642,780 shares of the savings and loans company’s stock valued at $12,592,000 after acquiring an additional 10,400 shares during the period. 68.00% of the stock is owned by hedge funds and other institutional investors.
Dime Community Bancshares, Inc. (DCOM) opened at 21.65 on Wednesday. The company’s 50 day moving average price is $20.21 and its 200 day moving average price is $19.98. Dime Community Bancshares, Inc. has a 12 month low of $16.10 and a 12 month high of $22.48. The stock has a market cap of $810.71 million, a PE ratio of 23.69 and a beta of 0.82.
Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Thursday, July 27th. The savings and loans company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $39.80 million for the quarter. Dime Community Bancshares had a return on equity of 8.04% and a net margin of 16.23%. Equities analysts forecast that Dime Community Bancshares, Inc. will post $1.27 EPS for the current fiscal year.
Several research analysts recently issued reports on the company. Barclays PLC lifted their target price on Dime Community Bancshares from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Wednesday, October 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $22.00 target price on shares of Dime Community Bancshares in a research report on Thursday, August 31st. ValuEngine raised Dime Community Bancshares from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Finally, BidaskClub cut Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $22.17.
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About Dime Community Bancshares
Dime Community Bancshares, Inc operates as a holding company for Dime Community Bank (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.
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