Dime Community Bancshares (NASDAQ:DCOM) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Dime Community Bancshares, Inc. (NASDAQ:DCOM)’s share price passed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $38.44 and traded as high as $39.84. Dime Community Bancshares shares last traded at $39.5270, with a volume of 345,502 shares trading hands.

Dime Community Bancshares Stock Down 2.3%

The firm’s fifty day moving average price is $40.51 and its 200-day moving average price is $38.50. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 16.34 and a beta of 1.01. 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 announced its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. The firm had revenue of $128.41 million for the quarter, compared to analyst estimates of $123.46 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 posted $0.64 earnings per share. Sell-side analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 16th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Friday, October 16th. Dime Community Bancshares’s dividend payout ratio is 36.10%.

Insider Buying and Selling at Dime Community Bancshares

In other news, Director Basswood Capital Management, L sold 53,000 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the completion of the transaction, the director owned 6,440 shares of the company’s stock, valued at approximately $262,494.40. This trade represents a 89.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 1,800 shares of Dime Community Bancshares stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total transaction of $75,114.00. Following the transaction, the director owned 32,400 shares in the company, valued at approximately $1,352,052. This trade represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 134,595 shares of company stock valued at $5,506,229 in the last ninety days. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds have recently made changes to their positions in DCOM. Bank of America Corp DE acquired a new stake in shares of Dime Community Bancshares during the second quarter worth $9,631,000. BlackRock Inc. bought a new stake in Dime Community Bancshares during the second quarter valued at $251,937,000. Legal & General Group Plc acquired a new stake in Dime Community Bancshares during the 2nd quarter worth about $3,904,000. Deutsche Bank AG acquired a new stake in Dime Community Bancshares during the 2nd quarter worth about $1,782,000. Finally, Empowered Funds LLC bought a new position in shares of Dime Community Bancshares in the 2nd quarter worth about $8,149,000. 75.27% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the parent company of Dime Community Bank, a community-focused commercial bank serving businesses, individuals and local organizations. The bank provides deposit accounts, commercial and residential real estate lending, multifamily and small-business financing, consumer loans, treasury and cash-management services, and wealth-management solutions.

Dime Community Bank’s market is concentrated primarily in Long Island and the New York City metropolitan area, including Brooklyn, Queens, and Manhattan.