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 Dime Community Bancshares stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.40, for a total value of $296,838.00. Following the completion of the transaction, the director directly owned 6,099 shares of the company’s stock, valued at approximately $252,498.60. This represents a 54.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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 transaction 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 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 stock was 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 shares were 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 value 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 value of $575,730.71.

Dime Community Bancshares Stock Up 0.7%

Shares of Dime Community Bancshares stock traded up $0.27 on Thursday, reaching $41.18. The company’s stock had a trading volume of 244,209 shares, compared to its average volume of 309,333. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.45 and a beta of 0.99. The firm’s fifty day simple moving average is $39.94 and its two-hundred day simple moving average is $36.66. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $41.97. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is 36.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DCOM. DA Davidson boosted 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 raised their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC grew its position in shares of Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock valued at $49,000 after purchasing an additional 512 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Dime Community Bancshares by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after buying an additional 683 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in shares of Dime Community Bancshares by 3.3% in the second quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock worth $699,000 after buying an additional 819 shares in the last quarter. Larson Financial Group LLC boosted its stake in Dime Community Bancshares by 742.9% during the third 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 during the last quarter. Finally, Gator Capital Management LLC boosted its stake in Dime Community Bancshares by 0.9% during the fourth quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company’s stock valued at $3,315,000 after buying an additional 955 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

About Dime Community Bancshares

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.