Basswood Capital Management, L Sells 14,513 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,513 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71. Following the completion of the transaction, the director owned 7,163 shares in the company, valued at approximately $284,156.21. The trade was a 66.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60.
• 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.

Dime Community Bancshares Trading Down 1.7%

NASDAQ DCOM opened at $38.74 on Thursday. The company’s 50-day moving average price is $36.96 and its 200-day moving average price is $33.95. 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 stock has a market cap of $1.71 billion, a PE ratio of 16.42 and a beta of 1.00. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $40.76.

Dime Community Bancshares Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have issued reports on DCOM shares. DA Davidson increased their target price 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 cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler started coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. Keefe, Bruyette & Woods increased their target price 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. Finally, Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Dime Community Bancshares during the 4th quarter worth approximately $28,000. Larson Financial Group LLC raised its stake in shares of Dime Community Bancshares by 742.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after acquiring an additional 884 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after acquiring an additional 4,446 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of Dime Community Bancshares during the 3rd quarter worth approximately $169,000. Finally, Maryland State Retirement & Pension System bought a new position in shares of Dime Community Bancshares during the 1st quarter worth approximately $202,000. 75.27% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

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.