Basswood Capital Management, L Sells 15,870 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 15,870 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $40.08, for a total value of $636,069.60. Following the completion of the sale, the director directly owned 7,291 shares of the company’s stock, valued at $292,223.28. The trade was a 68.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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 shares were sold at an average price of $39.29, for a total value 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 value of $575,730.71.

Dime Community Bancshares Price Performance

DCOM stock opened at $38.74 on Thursday. The company has a market capitalization of $1.71 billion, a P/E ratio of 16.42 and a beta of 1.00. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $40.76. The business has a 50 day simple moving average of $36.96 and a 200-day simple moving average of $33.95. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio is presently 37.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. DA Davidson upped their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Piper Sandler assumed coverage on Dime Community Bancshares in a research note on Monday, March 16th. They set an “overweight” rating and a $37.00 price target for the company. 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 upped their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Finally, Wall Street Zen cut Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

Large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Dime Community Bancshares by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after acquiring an additional 857,001 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Dime Community Bancshares by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after acquiring an additional 23,035 shares in the last quarter. State Street Corp raised its position in Dime Community Bancshares by 0.5% in the fourth quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company’s stock worth $54,885,000 after acquiring an additional 8,936 shares in the last quarter. Verition Fund Management LLC raised its position in Dime Community Bancshares by 19.8% in the fourth quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock worth $18,027,000 after acquiring an additional 99,011 shares in the last quarter. Finally, Penn Capital Management Company LLC raised its position in Dime Community Bancshares by 20.3% in the third quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company’s stock worth $17,487,000 after acquiring an additional 98,736 shares in the last quarter. Hedge funds and other institutional investors 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.