Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 14,513 Shares of 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 shares were sold at an average price of $39.67, for a total transaction of $575,730.71. Following the sale, the director directly owned 7,163 shares of the company’s stock, valued at $284,156.21. The trade was a 66.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Up 0.4%

DCOM stock opened at $39.41 on Wednesday. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $40.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.70 and a beta of 1.00. The business has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $33.88.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a $0.25 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. DA Davidson raised their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Piper Sandler began coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective on the stock. Keefe, Bruyette & Woods raised their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One equities 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares during the fourth quarter valued at approximately $28,000. Larson Financial Group LLC raised its position in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the third quarter valued at approximately $169,000. Tower Research Capital LLC TRC raised its position in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 4,446 shares in the last quarter. Finally, Maryland State Retirement & Pension System purchased a new position in Dime Community Bancshares during the first quarter valued at approximately $202,000. 75.27% of the stock is currently owned by hedge funds and other 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.