Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 90,000 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 90,000 shares of the stock in a transaction on Friday, October 23rd. The shares were sold at an average price of $42.68, for a total value of $3,841,200.00. Following the sale, the director owned 5,411 shares in the company, valued at approximately $230,941.48. This represents a 94.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total value of $695,644.95.
• 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 shares were 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 shares were 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 stock was sold at an average price of $40.79, for a total value of $445,793.91.

Dime Community Bancshares Stock Performance

NASDAQ DCOM traded down $0.42 during trading hours on Tuesday, hitting $42.51. The company’s stock had a trading volume of 400,588 shares, compared to its average volume of 318,599. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $43.38. The company’s 50 day simple moving average is $40.21 and its two-hundred day simple moving average is $37.31. 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 company has a market cap of $1.88 billion, a P/E ratio of 18.01 and a beta of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (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 analysts’ expectations 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 quarter in the prior year, the business earned $0.59 EPS. As a group, sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal 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 paid a $0.25 dividend. The ex-dividend date was Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Dime Community Bancshares’s payout ratio is currently 32.47%.

Analysts Set New Price Targets

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

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently bought and sold shares of the company. Nykredit A S bought a new position in Dime Community Bancshares in the second quarter valued at about $35,000. USA Financial Formulas purchased a new position in Dime Community Bancshares in the third quarter worth about $73,000. Odyssean LLC purchased a new position in Dime Community Bancshares in the second quarter worth about $203,000. HighTower Advisors LLC bought a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at about $211,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Dime Community Bancshares during the 1st quarter valued at about $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.