Basswood Capital Management, L Sells 32,751 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the sale, the director owned 6,785 shares of the company’s stock, valued at $264,750.70. This represents a 82.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.08, for a total value of $636,069.60.
• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.29, for a total value of $550,806.51.
• 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 value of $575,730.71.

Dime Community Bancshares Stock Performance

DCOM stock traded up $0.52 during midday trading on Tuesday, hitting $39.68. The stock had a trading volume of 296,733 shares, compared to its average volume of 294,129. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $40.76. 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 50-day simple moving average of $37.16 and a 200 day simple moving average of $34.17. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.81 and a beta of 1.00.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 37.59%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares during the fourth quarter worth approximately $28,000. Larson Financial Group LLC boosted its position in 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 buying an additional 884 shares during the last quarter. iSAM Funds UK Ltd acquired a new stake in shares of Dime Community Bancshares in the 3rd quarter valued at $169,000. Tower Research Capital LLC TRC raised its position in shares of Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after acquiring an additional 4,446 shares during the last quarter. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Dime Community Bancshares during the first quarter valued at $202,000. 75.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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 raised their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. DA Davidson lifted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Wall Street Zen lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Piper Sandler began coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.75.

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.