Dime Community Bancshares (NASDAQ:DCOM) Director Sells $3,841,200.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00. Following the completion of the transaction, the director directly owned 5,411 shares in the company, valued at $230,941.48. This trade represents a 94.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total value of $111,501.78.
• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.51, for a total transaction of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total transaction of $695,644.95.
• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.96, for a total transaction of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.59, for a total transaction of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.17, for a total transaction of $851,683.79.
• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.79, for a total transaction of $445,793.91.

Dime Community Bancshares Stock Performance

Dime Community Bancshares stock opened at $42.30 on Friday. 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 firm has a 50-day moving average of $40.28 and a 200-day moving average of $37.43. The firm has a market cap of $1.87 billion, a P/E ratio of 17.92 and a beta of 1.01. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $43.38.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The company had revenue of $135.35 million for the quarter, compared to analysts’ expectations of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same period last year, the firm earned $0.59 earnings per share. Sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 32.47%.

More Dime Community Bancshares News

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-focused investor interest, although it applies to preferred rather than common shares. Preferred stock dividend announcement
• Positive Sentiment: Recent quarterly results provide a fundamental tailwind: DCOM reported earnings of $0.91 per share versus the $0.86 consensus estimate, while revenue of $135.35 million exceeded expectations. Earnings also increased from $0.59 per share a year earlier.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler, Keefe, Bruyette & Woods, and DA Davidson raised or established price targets ranging from $47 to $50. The consensus rating is “Moderate Buy,” with an average target of $45.50.
• Neutral Sentiment: DCOM’s common stock remains above its 50-day and 200-day moving averages and close to its 52-week high, reflecting strong momentum but leaving the shares vulnerable to profit-taking.
• Negative Sentiment: Basswood Capital Management, a director-level holder, sold an additional 2,631 shares for approximately $111,500 on October 29, following sales of 5,160 shares on October 28 and 23,538 shares on October 27. These transactions left Basswood with only about 5,133 shares.
• Negative Sentiment: The latest activity adds to Basswood’s large disposals of 90,000 shares on October 23 and 16,159 shares on October 26. The sharp reduction in a major holder’s position may weigh on sentiment and signal profit-taking after the stock’s rally. SEC insider transaction filing
• Negative Sentiment: EVP Judy Wu also sold 887 shares, while CTO Michael Fegan and Director Joseph Perry previously reported sales. The cluster of insider transactions is the primary near-term negative catalyst, despite the company’s solid earnings and dividend profile.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. DA Davidson set a $50.00 price target on Dime Community Bancshares in a research note on Thursday, October 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nykredit A S purchased a new position in Dime Community Bancshares during the second quarter valued at $35,000. USA Financial Formulas bought a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at $73,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at $201,000. Maryland State Retirement & Pension System purchased a new stake in shares of Dime Community Bancshares in the 1st quarter worth about $202,000. Finally, Odyssean LLC purchased a new stake in shares of Dime Community Bancshares in the 2nd quarter worth about $203,000. Institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.