Dime Community Bancshares (NASDAQ:DCOM) Director Sells $695,644.95 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 16,159 shares of the business’s stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $43.05, for a total value of $695,644.95. Following the completion of the sale, the director owned 5,310 shares in the company, valued at approximately $228,595.50. This trade represents a 75.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00.
• 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 value 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 value 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 value 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 value 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 value of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.79, for a total value of $445,793.91.

Dime Community Bancshares Stock Down 1.0%

Shares of DCOM traded down $0.42 during mid-day trading on Tuesday, hitting $42.51. 400,588 shares of the company’s stock were exchanged, compared to its average volume of 318,599. The company has a market cap of $1.88 billion, a PE ratio of 18.01 and a beta of 1.01. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $43.38. The company has a 50-day simple moving average of $40.21 and a 200 day simple moving average of $37.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

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

Dime Community Bancshares Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on DCOM shares. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Piper Sandler restated an “overweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Finally, DA Davidson set a $50.00 target price on Dime Community Bancshares in a research report on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average price target of $45.50.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Dime Community Bancshares in the third quarter valued at approximately $657,000. USA Financial Formulas bought a new position in shares of Dime Community Bancshares during the third quarter worth approximately $73,000. Tidal Investments LLC acquired a new stake in Dime Community Bancshares during the 2nd quarter worth approximately $302,000. Squarepoint Ops LLC lifted its holdings in Dime Community Bancshares by 2.7% during the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock worth $2,643,000 after purchasing an additional 1,686 shares during the last quarter. Finally, Nykredit A S bought a new stake in Dime Community Bancshares in the 2nd quarter valued at $35,000. 75.27% of the stock is owned by institutional investors.

Dime Community Bancshares Company Profile

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.