Insider Selling: Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Sells 3,000 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond A. Nielsen sold 3,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $31.25, for a total value of $93,750.00. Following the transaction, the director now owns 41,185 shares in the company, valued at approximately $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dime Community Bancshares Trading Down 0.4 %

NASDAQ DCOM traded down $0.13 on Monday, reaching $30.46. 263,441 shares of the company were exchanged, compared to its average volume of 310,799. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. The business’s fifty day moving average price is $31.48 and its 200 day moving average price is $30.20. The stock has a market capitalization of $1.33 billion, a P/E ratio of 51.63 and a beta of 1.05. Dime Community Bancshares, Inc. has a fifty-two week low of $17.29 and a fifty-two week high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.28%. Dime Community Bancshares’s dividend payout ratio is currently 169.49%.

Analyst Upgrades and Downgrades

DCOM has been the topic of several research reports. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $39.00 in a research report on Monday, November 18th. Keefe, Bruyette & Woods cut their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Finally, Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $36.40.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds have recently bought and sold shares of DCOM. CoreCap Advisors LLC boosted its holdings in Dime Community Bancshares by 125.0% in the fourth quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company’s stock valued at $28,000 after purchasing an additional 500 shares during the period. Sterling Capital Management LLC boosted its stake in shares of Dime Community Bancshares by 861.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company’s stock valued at $35,000 after buying an additional 1,017 shares during the period. Parkside Financial Bank & Trust boosted its stake in shares of Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after buying an additional 654 shares during the period. KBC Group NV grew its position in shares of Dime Community Bancshares by 50.8% during the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock worth $83,000 after buying an additional 909 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Dime Community Bancshares during the fourth quarter worth approximately $92,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.