Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 16,159 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 16,159 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $43.05, for a total value of $695,644.95. Following the completion of the sale, the director owned 5,310 shares of the company’s stock, valued at $228,595.50. The trade was a 75.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was 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 value 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 value of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.59, for a total value 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 value of $851,683.79.
• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.76, for a total value 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 value of $445,793.91.

Dime Community Bancshares Stock Performance

Shares of Dime Community Bancshares stock opened at $41.87 on Thursday. 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 stock’s fifty day moving average price is $40.23 and its 200-day moving average price is $37.37. The firm has a market cap of $1.85 billion, a P/E ratio of 17.74 and a beta of 1.01. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $43.38.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $135.35 million during the quarter, compared to analyst estimates of $131.16 million. During the same period in the prior year, the firm earned $0.59 earnings per share. On average, equities research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were issued a $0.25 dividend. The ex-dividend date was Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s payout ratio is currently 32.47%.

Hedge Funds Weigh In On Dime Community Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of Dime Community Bancshares during the second quarter valued at about $9,631,000. BlackRock Inc. bought a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at about $251,937,000. Legal & General Group Plc bought a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at about $3,904,000. Deutsche Bank AG purchased a new position in shares of Dime Community Bancshares in the 2nd quarter worth approximately $1,782,000. Finally, Empowered Funds LLC purchased a new stake in Dime Community Bancshares during the second quarter valued at approximately $8,149,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares News Summary

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: Dime Community Bancshares reported quarterly earnings of $0.91 per share, exceeding the $0.86 analyst consensus, while revenue of $135.35 million also surpassed expectations. Earnings increased from $0.59 per share in the year-earlier quarter.
• Positive Sentiment: Analysts remain constructive: Piper Sandler raised its price target to $47, Keefe, Bruyette & Woods increased its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average target of $45.50.
• Positive Sentiment: The company’s quarterly dividend remains $0.25 per share, equivalent to a $1.00 annualized payout and an approximately 2.4% yield.
• Neutral Sentiment: DCOM is trading near its 52-week high and above its 50-day and 200-day moving averages, indicating strong recent momentum but also potentially increasing profit-taking risk.
• Negative Sentiment: Basswood Capital Management sold 90,000 shares for approximately $3.84 million on October 23 and another 16,159 shares for approximately $695,645 on October 26. The transactions reduced its reported position by roughly 94% and 75%, respectively, and represent the most significant near-term insider-selling signal. SEC insider transaction filing
• Negative Sentiment: Other reported sales included 887 shares by EVP Judy Wu, 2,355 shares by CTO Michael Fegan, and 3,000 shares by Director Joseph Perry. While individual insider sales do not necessarily signal deteriorating fundamentals, the cluster of transactions may weigh on investor sentiment.

Analysts Set New Price Targets

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

About Dime Community Bancshares

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.