Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Michael Fegan Sells 2,000 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Michael Fegan sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $35.76, for a total transaction of $71,520.00. Following the transaction, the chief technology officer now directly owns 20,155 shares in the company, valued at $720,742.80. The trade was a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM traded up $0.06 during midday trading on Tuesday, hitting $35.40. The company’s stock had a trading volume of 114,095 shares, compared to its average volume of 234,880. The stock has a fifty day moving average price of $32.19 and a 200 day moving average price of $26.01. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $37.60. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 23.56 and a beta of 1.03.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.12). The firm had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same period in the prior year, the firm posted $0.56 EPS. On average, research analysts forecast that Dime Community Bancshares, Inc. will post 1.49 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 2.82%. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Analysts Set New Price Targets

Several brokerages have commented on DCOM. Stephens raised shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. Raymond James lifted their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $34.20.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds have recently bought and sold shares of the company. Royce & Associates LP grew its stake in Dime Community Bancshares by 47.4% in the 3rd quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock worth $14,505,000 after buying an additional 162,004 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Dime Community Bancshares by 120.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after buying an additional 263,225 shares in the last quarter. Renaissance Technologies LLC boosted its position in Dime Community Bancshares by 12.8% during the second quarter. Renaissance Technologies LLC now owns 211,604 shares of the savings and loans company’s stock valued at $4,317,000 after buying an additional 24,000 shares during the period. American Century Companies Inc. grew its stake in shares of Dime Community Bancshares by 13.9% during the second quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock valued at $12,959,000 after buying an additional 77,284 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Dime Community Bancshares by 33.9% in the second quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock worth $9,967,000 after buying an additional 123,800 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.