Dime Community Bancshares (NASDAQ:DCOM) Director Sells $296,838.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 7,170 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $41.40, for a total value of $296,838.00. Following the completion of the transaction, the director owned 6,099 shares of the company’s stock, valued at $252,498.60. This trade represents a 54.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 value of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.59, for a total value of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was 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.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total transaction 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 transaction of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Stock Down 0.6%

Dime Community Bancshares stock opened at $40.95 on Friday. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.97. The firm has a 50 day moving average price of $40.08 and a 200-day moving average price of $36.75. The company has a market capitalization of $1.81 billion, a P/E ratio of 17.35 and a beta of 0.99. 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 disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were paid a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is presently 36.10%.

Institutional Trading of Dime Community Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Dime Community Bancshares during the 2nd quarter worth about $251,937,000. Wellington Management Group LLP grew its holdings in Dime Community Bancshares by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock valued at $128,281,000 after buying an additional 857,001 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in Dime Community Bancshares during the 2nd quarter valued at about $18,911,000. Adage Capital Partners GP L.L.C. bought a new stake in shares of Dime Community Bancshares during the fourth quarter valued at about $13,321,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Dime Community Bancshares during the second quarter valued at about $14,342,000. 75.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on DCOM shares. DA Davidson raised their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.