Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 15,870 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 15,870 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60. Following the sale, the director owned 7,291 shares in the company, valued at $292,223.28. The trade was a 68.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.29, for a total transaction of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Trading Up 0.4%

Shares of Dime Community Bancshares stock opened at $39.41 on Wednesday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 16.70 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $40.76. The firm’s 50-day moving average price is $36.88 and its two-hundred day moving average price is $33.88.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. Dime Community Bancshares’s dividend payout ratio is 37.59%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DCOM. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. DA Davidson increased their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in Dime Community Bancshares by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after purchasing an additional 857,001 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Dime Community Bancshares in the 4th quarter valued at $13,321,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Dime Community Bancshares by 97.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock valued at $12,900,000 after acquiring an additional 212,934 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Dime Community Bancshares by 271.4% in the 3rd quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company’s stock valued at $7,935,000 after acquiring an additional 194,383 shares in the last quarter. Finally, Verition Fund Management LLC increased its stake in shares of Dime Community Bancshares by 19.8% in the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock valued at $18,027,000 after acquiring an additional 99,011 shares in the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.