Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) CEO Sells 19,550 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CEO Stuart Lubow sold 19,550 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $35.07, for a total transaction of $685,618.50. Following the sale, the chief executive officer owned 202,648 shares of the company’s stock, valued at $7,106,865.36. This represents a 8.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Dime Community Bancshares Stock Up 0.9%

Shares of NASDAQ DCOM traded up $0.32 during mid-day trading on Tuesday, reaching $35.56. The company had a trading volume of 25,359 shares, compared to its average volume of 298,193. The firm has a 50 day simple moving average of $32.21 and a two-hundred day simple moving average of $30.06. Dime Community Bancshares, Inc. has a 52-week low of $23.25 and a 52-week high of $36.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market cap of $1.56 billion, a P/E ratio of 15.08 and a beta of 1.11.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%.The business had revenue of $123.85 million for the quarter, compared to analysts’ expectations of $118.14 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Sell-side analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 23rd. Shareholders of record on Friday, January 16th were paid a $0.25 dividend. The ex-dividend date was Friday, January 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.8%. Dime Community Bancshares’s payout ratio is currently 42.37%.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently modified their holdings of DCOM. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares in the fourth quarter worth $28,000. Larson Financial Group LLC increased its holdings in shares of Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after purchasing an additional 884 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Dime Community Bancshares in the second quarter valued at about $97,000. GAMMA Investing LLC boosted its holdings in Dime Community Bancshares by 15.1% during the third quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company’s stock worth $133,000 after buying an additional 584 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new position in Dime Community Bancshares during the third quarter worth about $169,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DCOM. Keefe, Bruyette & Woods raised their price objective on shares of Dime Community Bancshares from $34.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Dime Community Bancshares in a report on Wednesday, January 21st. Wall Street Zen raised Dime Community Bancshares from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Stephens boosted their target price on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Finally, DA Davidson upped their price target on Dime Community Bancshares from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Dime Community Bancshares has an average rating of “Hold” and a consensus price target of $38.33.

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.