Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 29,732 Shares of Company Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 29,732 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $42.72, for a total transaction of $1,270,151.04. Following the transaction, the director owned 1,531 shares of the company’s stock, valued at $65,404.32. This represents a 95.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Monday, November 2nd, Basswood Capital Management, L sold 34,333 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.72, for a total transaction of $1,466,705.76.
• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total transaction of $111,501.78.
• 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 transaction of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The stock was 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 stock was 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 transaction of $3,841,200.00.
• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The shares were 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 shares were 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 stock was sold at an average price of $40.59, for a total value of $352,077.66.

Dime Community Bancshares Stock Performance

Shares of DCOM stock opened at $43.77 on Thursday. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $44.23. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 18.55 and a beta of 0.98. The business has a 50 day simple moving average of $40.46 and a 200 day simple moving average of $37.68. 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 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. The firm had revenue of $135.35 million for the quarter, compared to analysts’ expectations of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same period last year, the firm earned $0.59 EPS. On average, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is 32.47%.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its position in shares of Dime Community Bancshares by 2.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 17,519 shares of the savings and loans company’s stock valued at $712,000 after purchasing an additional 423 shares during the period. Illinois Municipal Retirement Fund raised its stake in shares of Dime Community Bancshares by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after buying an additional 683 shares in the last quarter. Nykredit A S bought a new stake in shares of Dime Community Bancshares in the 2nd quarter worth $35,000. Royal Bank of Canada lifted its holdings in shares of Dime Community Bancshares by 11.7% in the first quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company’s stock valued at $315,000 after buying an additional 979 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Dime Community Bancshares by 3.2% in the third quarter. Kestra Advisory Services LLC now owns 40,075 shares of the savings and loans company’s stock valued at $1,580,000 after buying an additional 1,238 shares during the period. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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