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 the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60. Following the transaction, the director owned 7,291 shares of the company’s stock, valued at $292,223.28. This trade represents a 68.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 Price Performance

Shares of NASDAQ:DCOM traded up $0.17 during trading on Tuesday, hitting $39.41. 245,534 shares of the company were exchanged, compared to its average volume of 292,092. The business’s 50 day moving average is $36.88 and its 200-day moving average is $33.88. The company has a market capitalization of $1.74 billion, a P/E ratio of 16.70 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $40.76.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares’s payout ratio is 37.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. DA Davidson lifted their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sovran Advisors LLC bought a new stake in Dime Community Bancshares in the fourth quarter valued at $1,065,000. Penn Capital Management Company LLC increased its position in shares of Dime Community Bancshares by 20.3% during the third quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after acquiring an additional 98,736 shares in the last quarter. Gator Capital Management LLC increased its position in shares of Dime Community Bancshares by 16.9% during the third quarter. Gator Capital Management LLC now owns 109,230 shares of the savings and loans company’s stock worth $3,258,000 after acquiring an additional 15,792 shares in the last quarter. UBS Group AG increased its position in shares of Dime Community Bancshares by 17.6% during the fourth quarter. UBS Group AG now owns 213,325 shares of the savings and loans company’s stock worth $6,419,000 after acquiring an additional 31,968 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Dime Community Bancshares by 12.2% during the third quarter. JPMorgan Chase & Co. now owns 157,812 shares of the savings and loans company’s stock worth $4,708,000 after acquiring an additional 17,129 shares in the last quarter. 75.27% of the stock is owned by institutional investors.

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.