Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $111,501.78 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 2,631 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $42.38, for a total value of $111,501.78. Following the transaction, the director owned 5,133 shares of the company’s stock, valued at approximately $217,536.54. This trade represents a 33.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total transaction of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total transaction of $695,644.95.
• 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 transaction 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 transaction of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.17, for a total value 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 value of $2,160,280.00.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $41.73 on Friday. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $43.38. The stock has a market cap of $1.84 billion, a PE ratio of 17.68 and a beta of 1.01. The firm has a 50-day moving average of $40.31 and a 200-day moving average of $37.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. The company had revenue of $135.35 million for the quarter, compared to the consensus estimate of $131.16 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 32.47%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DCOM. Nykredit A S acquired a new position in shares of Dime Community Bancshares during the second quarter valued at about $35,000. USA Financial Formulas acquired a new stake in shares of Dime Community Bancshares in the 3rd quarter valued at about $73,000. Odyssean LLC acquired a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at about $203,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in Dime Community Bancshares in the 3rd quarter valued at about $201,000. Finally, HighTower Advisors LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at about $211,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

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

Key Stories Impacting Dime Community Bancshares

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
• Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
• Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
• Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
• Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

Dime Community Bancshares Company Profile

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.