Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 16,159 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 16,159 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $43.05, for a total value of $695,644.95. Following the completion of the sale, the director owned 5,310 shares in the company, valued at $228,595.50. This represents a 75.27% decrease in their position. The transaction was disclosed in a document filed 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, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.68, for a total value of $3,841,200.00.
• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total value of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.96, for a total value of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.59, for a total value of $352,077.66.
• 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 shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.79, for a total transaction of $445,793.91.

Dime Community Bancshares Price Performance

Shares of DCOM opened at $42.51 on Wednesday. The firm has a market capitalization of $1.88 billion, a PE ratio of 18.01 and a beta of 1.01. The company’s 50-day moving average is $40.21 and its 200-day moving average is $37.31. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $43.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last announced its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter in the previous year, the firm posted $0.59 EPS. Equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio is currently 32.47%.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Counterpoint Mutual Funds LLC bought a new position in Dime Community Bancshares during the third quarter worth about $657,000. USA Financial Formulas acquired a new stake in Dime Community Bancshares in the 3rd quarter worth about $73,000. Tidal Investments LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at about $302,000. Squarepoint Ops LLC boosted its holdings in Dime Community Bancshares by 2.7% in the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock valued at $2,643,000 after purchasing an additional 1,686 shares during the period. Finally, Nykredit A S bought a new stake in Dime Community Bancshares in the 2nd quarter valued at about $35,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DCOM shares. Piper Sandler restated an “overweight” rating and set a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. DA Davidson set a $50.00 target price on Dime Community Bancshares in a research note on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods lifted their price target on Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.50.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.