JPMorgan Chase & Co. increased its stake in Dime Community Bancshares Inc. (NASDAQ:DCOM) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 509,856 shares of the company’s stock after buying an additional 20,577 shares during the period. JPMorgan Chase & Co. owned approximately 1.36% of Dime Community Bancshares worth $8,672,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. BlackRock Fund Advisors boosted its stake in shares of Dime Community Bancshares by 0.9% in the first quarter. BlackRock Fund Advisors now owns 2,001,167 shares of the company’s stock valued at $35,261,000 after buying an additional 18,711 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Dime Community Bancshares by 179.2% in the second quarter. Artemis Investment Management LLP now owns 1,326,400 shares of the company’s stock valued at $22,555,000 after buying an additional 851,300 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Dime Community Bancshares during the second quarter valued at about $14,315,000. LSV Asset Management boosted its stake in shares of Dime Community Bancshares by 3.4% in the second quarter. LSV Asset Management now owns 733,622 shares of the company’s stock valued at $12,478,000 after buying an additional 24,300 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Dime Community Bancshares by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 564,383 shares of the company’s stock valued at $9,600,000 after buying an additional 16,087 shares in the last quarter. Institutional investors and hedge funds own 65.52% of the company’s stock.
Shares of Dime Community Bancshares Inc. (NASDAQ:DCOM) traded down 0.18% during mid-day trading on Friday, hitting $16.65. 9,984 shares of the stock traded hands. The firm has a 50 day moving average of $17.33 and a 200 day moving average of $17.50. Dime Community Bancshares Inc. has a 12 month low of $15.61 and a 12 month high of $18.87. The company has a market cap of $611.94 million, a P/E ratio of 7.36 and a beta of 0.87.
Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. Dime Community Bancshares had a net margin of 32.01% and a return on equity of 8.76%. Equities analysts anticipate that Dime Community Bancshares Inc. will post $1.25 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Dime Community Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, September 27th.
In other news, Director Kathleen M. Nelson purchased 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were bought at an average price of $16.94 per share, for a total transaction of $33,880.00. Following the completion of the transaction, the director now owns 18,104 shares in the company, valued at $306,681.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.70% of the company’s stock.
About Dime Community Bancshares
Dime Community Bancshares, Inc operates as a holding company for The Dime Savings Bank of Williamsburgh (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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