Dime Community Bancshares (NASDAQ:DCOM) Director Sells 29,732 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 29,732 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $42.72, for a total value of $1,270,151.04. Following the transaction, the director owned 1,531 shares of the company’s stock, valued at approximately $65,404.32. This represents a 95.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, November 2nd, Basswood Capital Management, L sold 34,333 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.72, for a total value of $1,466,705.76.
• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total value of $111,501.78.
• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total value of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total value of $695,644.95.
• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.68, for a total value of $3,841,200.00.
• 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 Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was 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 stock was sold at an average price of $40.59, for a total transaction of $352,077.66.

Dime Community Bancshares Stock Up 3.7%

Shares of NASDAQ DCOM traded up $1.55 during midday trading on Wednesday, hitting $43.77. The company’s stock had a trading volume of 382,615 shares, compared to its average volume of 319,955. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 18.55 and a beta of 1.01. The business’s fifty day simple moving average is $40.39 and its two-hundred day simple moving average is $37.61. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $44.23.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The firm had revenue of $135.35 million for the quarter, compared to the consensus estimate of $131.16 million. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 32.47%.

Analysts Set New Price Targets

DCOM has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. DA Davidson set a $50.00 target price on Dime Community Bancshares in a research note on Thursday, October 22nd. Finally, Piper Sandler reissued an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a research note on Wednesday, October 21st. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in Dime Community Bancshares during the 2nd quarter worth approximately $35,000. USA Financial Formulas acquired a new stake in shares of Dime Community Bancshares in the 3rd quarter valued at $73,000. Odyssean LLC acquired a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at $203,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter worth $201,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter worth $211,000. 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, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.