Dime Community Bancshares (NASDAQ:DCOM) Director Sells $575,730.71 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,513 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71. Following the sale, the director owned 7,163 shares of the company’s stock, valued at $284,156.21. This trade represents a 66.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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.

Dime Community Bancshares Stock Performance

Shares of DCOM traded up $0.17 during mid-day trading on Tuesday, hitting $39.41. 245,534 shares of the company’s stock were exchanged, compared to its average volume of 292,092. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $40.76. The firm has a market capitalization of $1.74 billion, a P/E ratio of 16.70 and a beta of 1.00. The business’s 50 day moving average is $36.77 and its two-hundred day moving average is $33.80. 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 Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Wellington Management Group LLP increased its stake in shares of 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Dime Community Bancshares by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock valued at $79,602,000 after buying an additional 23,035 shares during the period. State Street Corp grew its stake in shares of Dime Community Bancshares by 0.5% during the 4th quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company’s stock valued at $54,885,000 after buying an additional 8,936 shares during the period. Verition Fund Management LLC boosted its position in Dime Community Bancshares by 19.8% during the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock worth $18,027,000 after purchasing an additional 99,011 shares during the period. Finally, Penn Capital Management Company LLC boosted its position in Dime Community Bancshares by 20.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after purchasing an additional 98,736 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.