Raymond Nielsen Sells 1,800 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the transaction, the director directly owned 32,400 shares in the company, valued at $1,352,052. The trade was a 5.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $40.34 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of 17.09 and a beta of 0.99. The company has a fifty day simple moving average of $39.72 and a 200 day simple moving average of $36.44. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $41.97.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders 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 2.5%. Dime Community Bancshares’s payout ratio is presently 36.10%.

Wall Street Analysts Forecast Growth

DCOM has been the topic of several recent research reports. 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 research report on Friday, April 24th. DA Davidson increased their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Dime Community Bancshares in the second quarter worth $251,937,000. Deutsche Bank AG purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $1,782,000. Bank of New York Mellon Corp purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $14,342,000. Empowered Funds LLC raised its stake in shares of Dime Community Bancshares by 7.3% during the 1st quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock worth $6,439,000 after purchasing an additional 13,023 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Dime Community Bancshares by 19.8% in the 1st quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after buying an additional 54,382 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.