Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 90,000 Shares of Company Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 90,000 shares of the stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00. Following the completion of the transaction, the director directly owned 5,411 shares of the company’s stock, valued at $230,941.48. This represents a 94.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total value of $695,644.95.
• 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 stock was 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.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.17, for a total value of $851,683.79.
• 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 value of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.79, for a total value of $445,793.91.

Dime Community Bancshares Stock Down 1.0%

Shares of DCOM stock traded down $0.42 during mid-day trading on Tuesday, reaching $42.51. 400,588 shares of the company’s stock traded hands, compared to its average volume of 318,599. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $43.38. The company has a market cap of $1.88 billion, a P/E ratio of 18.01 and a beta of 1.01. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $40.21 and its 200-day moving average price is $37.31.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $135.35 million for the quarter, compared to the consensus estimate of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period in the prior year, the firm earned $0.59 EPS. On average, equities 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 disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares’s payout ratio is presently 32.47%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Keefe, Bruyette & Woods raised 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 note on Wednesday, October 21st. Piper Sandler reiterated an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Finally, DA Davidson set a $50.00 price target on Dime Community Bancshares in a research report on Thursday, October 22nd. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $45.50.

Institutional Investors Weigh In On Dime Community Bancshares

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

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.