Raymond Nielsen Sells 1,650 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,650 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $37.09, for a total transaction of $61,198.50. Following the completion of the transaction, the director directly owned 35,607 shares in the company, valued at $1,320,663.63. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Dime Community Bancshares Trading Down 0.2%

Shares of Dime Community Bancshares stock opened at $36.59 on Wednesday. The firm has a market capitalization of $1.61 billion, a PE ratio of 15.50 and a beta of 1.00. Dime Community Bancshares, Inc. has a twelve month low of $24.57 and a twelve month high of $37.90. The firm’s 50-day moving average price is $34.50 and its 200 day moving average price is $32.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio is currently 37.59%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stephens lifted their target price on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods upped their target price 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. 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. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, Piper Sandler began coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Institutional Trading of Dime Community Bancshares

Several hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Dime Community Bancshares by 15.7% in the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock valued at $645,000 after purchasing an additional 3,135 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Dime Community Bancshares by 132.3% in the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock valued at $4,726,000 after purchasing an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Dime Community Bancshares by 17.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock valued at $659,000 after purchasing an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Dime Community Bancshares by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock valued at $9,060,000 after purchasing an additional 18,195 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Dime Community Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock valued at $2,289,000 after purchasing an additional 4,231 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.