Dime Community Bancshares (NASDAQ:DCOM) Director Sells $550,806.51 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock in a transaction 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 sale, the director directly owned 7,040 shares of the company’s stock, valued at approximately $276,601.60. The trade was a 66.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $40.08, for a total transaction of $636,069.60.
• 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 0.5%

NASDAQ:DCOM opened at $38.97 on Friday. 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 firm has a 50-day moving average of $37.05 and a 200-day moving average of $34.03. The company has a market cap of $1.72 billion, a PE ratio of 16.51 and a beta of 1.00. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $40.76.

Dime Community Bancshares Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s payout ratio is currently 37.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans grew its stake in Dime Community Bancshares by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock valued at $878,000 after purchasing an additional 449 shares during the period. Hilton Head Capital Partners LLC raised its stake in shares of Dime Community Bancshares by 54.5% during the 1st quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock worth $49,000 after purchasing an additional 512 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in shares of Dime Community Bancshares by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after buying an additional 683 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Dime Community Bancshares by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock worth $699,000 after buying an additional 819 shares during the last quarter. Finally, Larson Financial Group LLC grew 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 buying an additional 884 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DCOM. Piper Sandler started coverage on Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. 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 lifted their price objective 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 report on Saturday, February 28th. Finally, Keefe, Bruyette & Woods boosted 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. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.