Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 10,929 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $40.79, for a total value of $445,793.91. Following the sale, the director directly owned 6,728 shares in the company, valued at $274,435.12. The trade was a 61.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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, 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 stock was 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 Trading Up 1.1%

Shares of NASDAQ DCOM opened at $41.22 on Tuesday. The firm has a 50 day moving average price of $39.42 and a two-hundred day moving average price of $36.19. The stock has a market cap of $1.82 billion, a P/E ratio of 17.47 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.62. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares’s dividend payout ratio is presently 36.10%.

Institutional Trading of Dime Community Bancshares

A number of large investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the 4th quarter valued at about $28,000. Larson Financial Group LLC grew 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 worth $30,000 after purchasing an additional 884 shares during the period. iSAM Funds UK Ltd bought a new stake in Dime Community Bancshares in the third quarter worth approximately $169,000. Tower Research Capital LLC TRC lifted its stake in Dime Community Bancshares by 326.4% in the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after buying an additional 4,446 shares during the period. Finally, Maryland State Retirement & Pension System acquired a new position in Dime Community Bancshares in the first quarter valued at approximately $202,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DCOM has been the subject of several recent research reports. DA Davidson increased their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods increased their target price on shares of 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 research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.