Basswood Capital Management, L Sells 14,019 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,019 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $39.29, for a total transaction of $550,806.51. Following the transaction, the director owned 7,040 shares in the company, valued at approximately $276,601.60. The trade was a 66.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Basswood Capital Management, L also recently made the following trade(s):

• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Price Performance

Shares of Dime Community Bancshares stock traded up $0.17 on Tuesday, reaching $39.41. 245,534 shares of the stock were exchanged, compared to its average volume of 292,092. The firm’s 50 day moving average is $36.77 and its 200-day moving average is $33.80. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $40.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.74 billion, a PE ratio of 16.70 and a beta of 1.00.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 annualized dividend and a yield of 2.5%. Dime Community Bancshares’s dividend payout ratio is presently 37.59%.

Analyst Upgrades and Downgrades

DCOM has been the subject of several research reports. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods increased their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 price objective for the company. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, DA Davidson increased their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its holdings in Dime Community Bancshares by 7.3% in the first quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock worth $6,439,000 after purchasing an additional 13,023 shares during the period. Bank of America Corp DE grew its holdings in Dime Community Bancshares by 19.8% in the first quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after purchasing an additional 54,382 shares during the period. Amundi acquired a new stake in Dime Community Bancshares in the first quarter worth $228,000. Royal Bank of Canada grew its holdings in Dime Community Bancshares by 11.7% in the first quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company’s stock worth $315,000 after purchasing an additional 979 shares during the period. Finally, Quantinno Capital Management LP grew its holdings in Dime Community Bancshares by 49.5% in the first quarter. Quantinno Capital Management LP now owns 49,434 shares of the savings and loans company’s stock worth $1,672,000 after purchasing an additional 16,363 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.