Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $1,324,441.60 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,335 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $40.96, for a total value of $1,324,441.60. Following the completion of the sale, the director directly owned 6,153 shares in the company, valued at $252,026.88. This trade represents a 84.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total value of $296,838.00.
• 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 shares were 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 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 transaction 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 transaction 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 transaction of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Stock Performance

Shares of NASDAQ:DCOM traded up $0.27 on Thursday, hitting $41.18. 244,209 shares of the company were exchanged, compared to its average volume of 309,333. The company’s 50 day moving average price is $39.94 and its two-hundred day moving average price is $36.66. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $41.97. 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 firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 17.45 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is 36.10%.

Analysts Set New Price Targets

Several equities analysts have commented on DCOM shares. DA Davidson upped their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their price objective 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 research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds have recently made changes to their positions in DCOM. Quantbot Technologies LP acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at about $332,000. BlackRock Inc. acquired a new position in Dime Community Bancshares in the second quarter worth about $251,937,000. Deutsche Bank AG acquired a new position in Dime Community Bancshares in the second quarter worth about $1,782,000. Bank of New York Mellon Corp bought a new position in Dime Community Bancshares during the second quarter worth about $14,342,000. Finally, Empowered Funds LLC lifted its stake in Dime Community Bancshares by 7.3% during the first quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock worth $6,439,000 after purchasing an additional 13,023 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.