Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $851,683.79 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 20,687 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $41.17, for a total transaction of $851,683.79. Following the sale, the director owned 6,396 shares of the company’s stock, valued at $263,323.32. This represents a 76.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.79, for a total transaction of $445,793.91.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.08, for a total value of $636,069.60.
• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.29, for a total value 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 value of $575,730.71.

Dime Community Bancshares Price Performance

DCOM opened at $41.59 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $1.84 billion, a PE ratio of 17.62 and a beta of 0.99. The stock’s 50 day moving average price is $39.59 and its 200-day moving average price is $36.34. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.97.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is 36.10%.

Wall Street Analyst Weigh In

DCOM has been the topic of several research analyst reports. DA Davidson boosted their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $39.75.

Institutional Trading of Dime Community Bancshares

Hedge funds have recently modified their holdings of the business. Hilton Head Capital Partners LLC grew its holdings in shares of Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock valued at $49,000 after buying an additional 512 shares during the last quarter. Illinois Municipal Retirement Fund raised its holdings in 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 acquiring an additional 683 shares during the last quarter. Orion Porfolio Solutions LLC raised its holdings in Dime Community Bancshares by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 25,961 shares of the savings and loans company’s stock worth $699,000 after acquiring an additional 819 shares during the last quarter. Larson Financial Group LLC lifted its position in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares in the last quarter. Finally, Gator Capital Management LLC boosted its stake in Dime Community Bancshares by 0.9% during the 4th quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company’s stock valued at $3,315,000 after purchasing an additional 955 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

Dime Community Bancshares Company Profile

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.