Dime Community Bancshares (NASDAQ:DCOM) Director Raymond Nielsen Sells 1,650 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the sale, the director owned 35,607 shares in the company, valued at $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Dime Community Bancshares Stock Performance

Shares of Dime Community Bancshares stock opened at $36.71 on Tuesday. The firm has a market capitalization of $1.62 billion, a P/E ratio of 15.55 and a beta of 1.00. The business’s fifty day simple moving average is $34.42 and its 200 day simple moving average is $31.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a 12 month low of $24.57 and a 12 month high of $37.90.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were paid a $0.25 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. Dime Community Bancshares’s payout ratio is presently 37.59%.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC purchased a new position in Dime Community Bancshares during the fourth quarter worth about $28,000. Larson Financial Group LLC grew its position in Dime Community Bancshares by 742.9% during the third quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after buying an additional 884 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after buying an additional 4,446 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the third quarter worth about $169,000. Finally, Maryland State Retirement & Pension System purchased a new position in Dime Community Bancshares during the first quarter worth about $202,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on DCOM shares. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. DA Davidson boosted their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Stephens boosted their price objective on Dime Community Bancshares from $33.00 to $36.00 and gave the company an “equal weight” rating in a research note on Friday, January 23rd. Finally, Wall Street Zen lowered Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.75.

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.