Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 32,335 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,335 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $40.96, for a total transaction of $1,324,441.60. Following the sale, the director directly owned 6,153 shares of the company’s stock, valued at approximately $252,026.88. The trade was a 84.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00.
• 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.
• 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 stock was 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 stock was sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $41.18 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.82 billion, a PE ratio of 17.45 and a beta of 0.99. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97. The stock has a fifty day moving average price of $40.01 and a 200-day moving average price of $36.72.

Dime Community Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on DCOM. Keefe, Bruyette & Woods raised their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. DA Davidson upped their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Institutional Trading of Dime Community Bancshares

Several large investors have recently added to or reduced their stakes in DCOM. Hilton Head Capital Partners LLC acquired a new position in Dime Community Bancshares during the fourth quarter valued at $28,000. Larson Financial Group LLC grew its position in Dime Community Bancshares by 742.9% during the 3rd 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 purchased a new position in shares of Dime Community Bancshares during the 3rd quarter valued at about $169,000. Tower Research Capital LLC TRC raised its stake in shares of Dime Community Bancshares by 326.4% during the 2nd 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 last quarter. Finally, Maryland State Retirement & Pension System acquired a new position in shares of Dime Community Bancshares in the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.