Dime Community Bancshares (NASDAQ:DCOM) CTO Sells $98,462.55 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Michael Fegan sold 2,355 shares of the firm’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $41.81, for a total value of $98,462.55. Following the completion of the sale, the chief technology officer directly owned 25,618 shares of the company’s stock, valued at $1,071,088.58. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dime Community Bancshares Stock Down 1.4%

DCOM stock opened at $41.73 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.68 and a beta of 1.01. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $43.38. The stock has a fifty day moving average of $40.31 and a 200-day moving average of $37.49.

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

Dime Community Bancshares Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 32.47%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Nykredit A S purchased a new position in shares of Dime Community Bancshares in the 2nd quarter worth about $35,000. USA Financial Formulas bought a new stake in Dime Community Bancshares in the 3rd quarter worth approximately $73,000. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dime Community Bancshares in the third quarter worth approximately $201,000. Maryland State Retirement & Pension System purchased a new stake in Dime Community Bancshares in the first quarter worth approximately $202,000. Finally, Odyssean LLC purchased a new position in shares of Dime Community Bancshares during the second quarter worth approximately $203,000. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares News Roundup

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

• Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
• Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
• Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
• Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
• Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

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.