Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L Buys 29,000 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L bought 29,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the acquisition, the director now directly owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. The trade was a 2.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Dime Community Bancshares Stock Performance

Dime Community Bancshares stock traded up $0.09 during trading on Thursday, reaching $33.85. The company had a trading volume of 289,042 shares, compared to its average volume of 230,744. The firm’s 50-day simple moving average is $29.13 and its 200 day simple moving average is $23.95. Dime Community Bancshares, Inc. has a 52 week low of $17.29 and a 52 week high of $35.21. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 22.51 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). The firm had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. During the same period in the prior year, the company posted $0.56 EPS. Sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s payout ratio is 66.67%.

Analysts Set New Price Targets

A number of analysts recently commented on DCOM shares. StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. Keefe, Bruyette & Woods increased their price objective on Dime Community Bancshares from $25.50 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Raymond James upped their price objective on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average target price of $29.50.

Institutional Trading of Dime Community Bancshares

Several hedge funds have recently modified their holdings of DCOM. Kimelman & Baird LLC purchased a new stake in Dime Community Bancshares in the 2nd quarter worth about $56,000. GAMMA Investing LLC boosted its holdings in shares of Dime Community Bancshares by 30.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after buying an additional 685 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Dime Community Bancshares by 496.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after acquiring an additional 4,000 shares in the last quarter. Quest Partners LLC purchased a new position in Dime Community Bancshares during the 2nd quarter worth $101,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Dime Community Bancshares during the third quarter worth about $235,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

About Dime Community Bancshares

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.