Dime Community Bancshares (NASDAQ:DCOM) Director Sells $216,823.20 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 5,160 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $42.02, for a total transaction of $216,823.20. Following the completion of the sale, the director owned 5,148 shares of the company’s stock, valued at $216,318.96. This trade represents a 50.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 transaction of $111,501.78.
• 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 Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The shares were 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 shares were 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 transaction 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 transaction 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.

Dime Community Bancshares Trading Up 1.1%

Dime Community Bancshares stock traded up $0.44 during trading hours on Thursday, hitting $42.30. The company had a trading volume of 260,501 shares, compared to its average volume of 318,585. The firm has a market cap of $1.87 billion, a P/E ratio of 17.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $43.38. The company has a 50-day moving average price of $40.23 and a two-hundred day moving average price of $37.37.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The business 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 in the prior year, the firm earned $0.59 EPS. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares’s payout ratio is presently 32.47%.

Trending Headlines about Dime Community Bancshares

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

• Positive Sentiment: Dime Community Bancshares declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable November 16 to shareholders of record on November 9, providing continued income support for preferred investors. Preferred stock dividend announcement
• Positive Sentiment: The company’s latest quarterly results remain a supportive backdrop: earnings of $0.91 per share exceeded the $0.86 consensus estimate, while revenue of $135.35 million also topped expectations. Earnings rose from $0.59 per share in the year-earlier quarter.
• Positive Sentiment: Analysts remain constructive following the earnings report. Piper Sandler raised its price target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Neutral Sentiment: DCOM is trading near its 52-week high and above its 50-day and 200-day moving averages, signaling strong momentum but also leaving the stock more exposed to profit-taking.
• Negative Sentiment: EVP Judy Wu sold 887 shares for approximately $37,547, reducing her direct ownership by 18.6%. CTO Michael Fegan and Director Joseph Perry also reported share sales. Individual insider sales can reflect personal financial decisions, but the recent cluster may weigh on sentiment. DCOM insider selling report
• Negative Sentiment: Basswood Capital Management sold 90,000 shares for about $3.84 million on October 23 and another 16,159 shares for about $696,000 on October 26, reducing its reported position by more than 90% overall. The sizable institutional selling is the main near-term negative signal for DCOM.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors have recently made changes to their positions in DCOM. BlackRock Inc. acquired a new position in shares of Dime Community Bancshares in the 2nd quarter valued at $251,937,000. Dimensional Fund Advisors LP raised its holdings in Dime Community Bancshares by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. Basswood Capital Management L.L.C. purchased a new position in Dime Community Bancshares during the second quarter worth approximately $79,106,000. The Manufacturers Life Insurance Company purchased a new position in Dime Community Bancshares during the second quarter worth approximately $18,911,000. Finally, Bank of New York Mellon Corp purchased a new position in Dime Community Bancshares during the second quarter worth approximately $14,342,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DCOM has been the subject of several analyst reports. Piper Sandler reissued an “overweight” rating and set a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Finally, DA Davidson set a $50.00 price objective on shares of Dime Community Bancshares in a report on Thursday, October 22nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

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.