Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Acquires $32,572.89 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L purchased 1,043 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $31.23 per share, for a total transaction of $32,572.89. Following the purchase, the director now directly owns 1,043 shares in the company, valued at $32,572.89. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, November 12th, Basswood Capital Management, L acquired 29,000 shares of Dime Community Bancshares stock. The stock was purchased at an average cost of $32.00 per share, with a total value of $928,000.00.

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $33.89 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $1.33 billion, a PE ratio of 57.44 and a beta of 1.05. The stock has a fifty day moving average price of $32.37 and a 200 day moving average price of $29.50. Dime Community Bancshares, Inc. has a 1-year low of $17.29 and a 1-year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Sell-side analysts forecast that Dime Community Bancshares, Inc. will post 2.99 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio is presently 169.49%.

Hedge Funds Weigh In On Dime Community Bancshares

Large investors have recently modified their holdings of the business. Royce & Associates LP boosted its stake in shares of Dime Community Bancshares by 47.4% in the third quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after buying an additional 162,004 shares in the last quarter. Barclays PLC boosted its position in shares of Dime Community Bancshares by 91.0% during the 3rd quarter. Barclays PLC now owns 75,732 shares of the savings and loans company’s stock worth $2,181,000 after purchasing an additional 36,076 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Dime Community Bancshares by 120.9% during 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 purchasing an additional 263,225 shares during the period. GAMMA Investing LLC grew its stake in shares of Dime Community Bancshares by 17.4% during the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after purchasing an additional 512 shares during the period. Finally, Systematic Financial Management LP increased its holdings in shares of Dime Community Bancshares by 15.1% in the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after purchasing an additional 143,402 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $36.00 to $38.00 in a report on Thursday, January 23rd. Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $30.00 to $39.00 in a research note on Monday, November 18th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Dime Community Bancshares has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Dime Community Bancshares Company Profile

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.