Dime Community Bancshares (NASDAQ:DCOM) Director Sells $636,069.60 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 15,870 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60. Following the sale, the director directly owned 7,291 shares of the company’s stock, valued at approximately $292,223.28. The trade was a 68.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.29, for a total transaction 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 transaction of $575,730.71.

Dime Community Bancshares Stock Up 0.4%

Dime Community Bancshares stock traded up $0.17 during midday trading on Tuesday, hitting $39.41. 245,534 shares of the stock were exchanged, compared to its average volume of 292,092. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $40.76. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.70 and a beta of 1.00. The business’s 50-day moving average price is $36.88 and its 200-day moving average price is $33.88. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Announces Dividend

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

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors have recently bought and sold shares of DCOM. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares in the fourth quarter valued at approximately $28,000. Larson Financial Group LLC lifted its stake in shares of Dime Community Bancshares by 742.9% during 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 in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after purchasing an additional 4,446 shares during the last quarter. iSAM Funds UK Ltd bought a new position in shares of Dime Community Bancshares during the 3rd quarter valued at $169,000. Finally, Maryland State Retirement & Pension System bought a new position in shares of Dime Community Bancshares during the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on DCOM. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. Finally, DA Davidson boosted their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One investment 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, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

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.