Dime Community Bancshares (NASDAQ:DCOM) Director Sells 32,751 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the completion of the transaction, the director directly owned 6,785 shares in the company, valued at $264,750.70. This trade represents a 82.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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.
• 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 value of $575,730.71.

Dime Community Bancshares Trading Up 1.3%

Shares of Dime Community Bancshares stock traded up $0.52 during trading on Tuesday, reaching $39.68. 296,733 shares of the company were exchanged, compared to its average volume of 294,129. The business has a 50-day moving average price of $37.16 and a 200-day moving average price of $34.17. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 16.81 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 twelve month low of $25.63 and a twelve month high of $40.76.

Dime Community Bancshares Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares’s payout ratio is presently 37.59%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DCOM. DA Davidson increased their price target on shares of 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 initiated coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price objective for the company. 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. 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, Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, April 24th. One research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Institutional Trading of Dime Community Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Dime Community Bancshares by 7.3% in the first quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock valued at $6,439,000 after purchasing an additional 13,023 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Dime Community Bancshares by 19.8% during the first quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after buying an additional 54,382 shares in the last quarter. Amundi bought a new position in shares of Dime Community Bancshares during the first quarter worth about $228,000. Royal Bank of Canada raised its position in Dime Community Bancshares by 11.7% in the 1st quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company’s stock valued at $315,000 after buying an additional 979 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in Dime Community Bancshares by 49.5% in the 1st quarter. Quantinno Capital Management LP now owns 49,434 shares of the savings and loans company’s stock valued at $1,672,000 after acquiring an additional 16,363 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.