Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells 14,019 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,019 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $39.29, for a total transaction of $550,806.51. Following the completion of the transaction, the director directly owned 7,040 shares in the company, valued at approximately $276,601.60. The trade was a 66.57% decrease in their ownership of the stock. The sale 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 Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Trading Up 0.4%

DCOM stock traded up $0.17 during midday trading on Tuesday, reaching $39.41. The company’s stock had a trading volume of 245,534 shares, compared to its average volume of 292,092. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $40.76. The stock has a market cap of $1.74 billion, a PE 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. The business’s 50-day simple moving average is $36.77 and its 200-day simple moving average is $33.80.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were given 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 of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sovran Advisors LLC acquired a new position in Dime Community Bancshares in the 4th quarter valued at about $1,065,000. Penn Capital Management Company LLC grew its position in shares of Dime Community Bancshares by 20.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after purchasing an additional 98,736 shares in the last quarter. Gator Capital Management LLC grew its position in shares of Dime Community Bancshares by 16.9% during the 3rd quarter. Gator Capital Management LLC now owns 109,230 shares of the savings and loans company’s stock worth $3,258,000 after purchasing an additional 15,792 shares in the last quarter. UBS Group AG grew its position in shares of Dime Community Bancshares by 17.6% during the 4th quarter. UBS Group AG now owns 213,325 shares of the savings and loans company’s stock worth $6,419,000 after purchasing an additional 31,968 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Dime Community Bancshares by 12.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 157,812 shares of the savings and loans company’s stock worth $4,708,000 after purchasing an additional 17,129 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DCOM shares. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. 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 research report on Monday, April 27th. 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 research report on Friday, April 24th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Piper Sandler started coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

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.