Basswood Capital Management, L Sells 10,929 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 10,929 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $40.79, for a total value of $445,793.91. Following the transaction, the director directly owned 6,728 shares in the company, valued at $274,435.12. The trade was a 61.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.17, for a total transaction of $851,683.79.
• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02.
• 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 Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The shares were 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 transaction of $575,730.71.

Dime Community Bancshares Stock Up 1.1%

Shares of NASDAQ DCOM traded up $0.46 during midday trading on Monday, reaching $41.22. 258,793 shares of the company’s stock traded hands, compared to its average volume of 305,344. 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 stock’s 50 day simple moving average is $39.33 and its 200-day simple moving average is $36.11. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $41.62. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 17.47 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

Wall Street Analyst Weigh In

DCOM has been the subject of a number of recent research reports. DA Davidson boosted 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. Keefe, Bruyette & Woods raised 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 analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Dime Community Bancshares has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Institutional Trading of Dime Community Bancshares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hilton Head Capital Partners LLC boosted its position in shares of Dime Community Bancshares by 54.5% in 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 in the last quarter. Illinois Municipal Retirement Fund increased its position in Dime Community Bancshares by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock valued at $718,000 after buying an additional 683 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in Dime Community Bancshares by 3.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock valued at $699,000 after buying an additional 819 shares in the last quarter. Larson Financial Group LLC raised its stake in Dime Community Bancshares by 742.9% in 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 last quarter. Finally, Gator Capital Management LLC raised its stake in Dime Community Bancshares by 0.9% in the fourth quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company’s stock valued at $3,315,000 after buying an additional 955 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.