Dime Community Bancshares (NASDAQ:DCOM) CEO Sells $685,618.50 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CEO Stuart Lubow sold 19,550 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $35.07, for a total value of $685,618.50. Following the completion of the transaction, the chief executive officer directly owned 202,648 shares of the company’s stock, valued at $7,106,865.36. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dime Community Bancshares Trading Down 2.7%

Shares of DCOM opened at $34.01 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of 14.41 and a beta of 1.11. 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, Inc. has a 1-year low of $23.25 and a 1-year high of $36.86. The firm’s 50 day simple moving average is $32.46 and its 200 day simple moving average is $30.18.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The company had revenue of $123.85 million for the quarter, compared to analyst estimates of $118.14 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter last year, the firm earned $0.42 EPS. Sell-side analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, January 16th. Dime Community Bancshares’s payout ratio is currently 42.37%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. Squarepoint Ops LLC lifted its holdings in Dime Community Bancshares by 59.6% during the second quarter. Squarepoint Ops LLC now owns 86,946 shares of the savings and loans company’s stock valued at $2,342,000 after purchasing an additional 32,467 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Dime Community Bancshares by 15.6% during the 3rd quarter. New York State Common Retirement Fund now owns 350,807 shares of the savings and loans company’s stock worth $10,465,000 after purchasing an additional 47,338 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Dime Community Bancshares by 31.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 160,927 shares of the savings and loans company’s stock valued at $4,335,000 after buying an additional 38,395 shares in the last quarter. CSM Advisors LLC acquired a new stake in Dime Community Bancshares in the 2nd quarter worth about $6,302,000. Finally, Hussman Strategic Advisors Inc. purchased a new stake in Dime Community Bancshares during the 2nd quarter worth approximately $1,697,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on DCOM shares. Stephens increased their target price on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. Zacks Research upgraded Dime Community Bancshares from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Dime Community Bancshares in a report on Wednesday, January 21st. Wall Street Zen raised shares of Dime Community Bancshares from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, DA Davidson upped their price objective on shares of Dime Community Bancshares from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $38.33.

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.