Dime Community Bancshares (NASDAQ:DCOM) Director Sells $636,069.60 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock in a transaction on Friday, June 12th. The shares were sold at an average price of $40.08, for a total transaction of $636,069.60. Following the completion of the sale, the director owned 7,291 shares of the company’s stock, valued at $292,223.28. This represents a 68.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• 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 transaction 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 transaction of $575,730.71.

Dime Community Bancshares Trading Up 0.5%

DCOM opened at $38.97 on Friday. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $40.76. 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 company has a market cap of $1.72 billion, a P/E ratio of 16.51 and a beta of 1.00. The company has a fifty day moving average price of $37.05 and a two-hundred day moving average price of $34.03.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s payout ratio is presently 37.59%.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Dime Community Bancshares in the 4th quarter worth $28,000. Larson Financial Group LLC boosted its holdings in Dime Community Bancshares by 742.9% during the third 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 last quarter. iSAM Funds UK Ltd bought a new stake in Dime Community Bancshares in the 3rd quarter worth about $169,000. Tower Research Capital LLC TRC increased its stake in Dime Community Bancshares by 326.4% in 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 purchased a new stake in Dime Community Bancshares in the 1st quarter valued at about $202,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DCOM has been the subject of a number of research reports. DA Davidson raised their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Piper Sandler assumed coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Keefe, Bruyette & Woods boosted 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 note on Friday, April 24th. Finally, Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.75.

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.