The Manufacturers Life Insurance Company Invests $18.91 Million in Dime Community Bancshares, Inc. $DCOM

The Manufacturers Life Insurance Company acquired a new stake in shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 465,218 shares of the savings and loans company’s stock, valued at approximately $18,911,000. The Manufacturers Life Insurance Company owned 1.05% of Dime Community Bancshares as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of DCOM. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares in the 4th quarter worth about $28,000. Larson Financial Group LLC grew its stake in Dime Community Bancshares by 742.9% in the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in shares of Dime Community Bancshares during the third quarter valued at $169,000. Tower Research Capital LLC TRC increased its position in Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after purchasing an additional 4,446 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in Dime Community Bancshares in the first quarter worth approximately $202,000. Institutional investors own 75.27% of the company’s stock.

Insider Activity at Dime Community Bancshares

In related news, Director Raymond A. Nielsen sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the sale, the director owned 32,400 shares in the company, valued at $1,352,052. This represents a 5.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Basswood Capital Management, L sold 7,170 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $41.40, for a total transaction of $296,838.00. Following the completion of the sale, the director directly owned 6,099 shares in the company, valued at $252,498.60. This trade represents a 54.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 211,748 shares of company stock worth $8,546,780. 7.40% of the stock is owned by insiders.

Dime Community Bancshares Trading Up 0.1%

DCOM opened at $40.44 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 17.13 and a beta of 0.99. The stock has a fifty day moving average price of $40.30 and a 200-day moving average price of $37.13. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.79. The business had revenue of $128.41 million for the quarter, compared to analysts’ expectations of $123.46 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period last year, the business earned $0.64 EPS. As a group, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

Dime Community Bancshares Company Profile

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.