Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 23,538 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 23,538 shares of the firm’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $42.51, for a total value of $1,000,600.38. Following the transaction, the director owned 5,177 shares of the company’s stock, valued at $220,074.27. This trade represents a 81.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total value of $111,501.78.
• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.02, for a total value of $216,823.20.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total value of $695,644.95.
• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00.
• 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 shares were 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 shares were sold at an average price of $40.59, for a total transaction 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 transaction 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.

Dime Community Bancshares Trading Down 1.4%

Shares of Dime Community Bancshares stock opened at $41.73 on Friday. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $43.38. The stock has a market capitalization of $1.84 billion, a P/E ratio of 17.68 and a beta of 1.01. The company has a 50-day simple moving average of $40.31 and a 200 day simple moving average of $37.49. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $135.35 million for the quarter, compared to analyst estimates 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 previous year, the business earned $0.59 earnings per share. Research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were paid a $0.25 dividend. The ex-dividend date was Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. Dime Community Bancshares’s payout ratio is 32.47%.

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds have recently added to or reduced their stakes in DCOM. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Dime Community Bancshares during the third quarter valued at approximately $201,000. Counterpoint Mutual Funds LLC bought a new position in Dime Community Bancshares in the 3rd quarter worth approximately $657,000. USA Financial Formulas bought a new position in Dime Community Bancshares in the 3rd quarter worth approximately $73,000. Tidal Investments LLC bought a new position in Dime Community Bancshares in the 2nd quarter worth approximately $302,000. Finally, Squarepoint Ops LLC lifted its holdings in Dime Community Bancshares by 2.7% during the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock worth $2,643,000 after buying an additional 1,686 shares in the last quarter. Institutional investors own 75.27% of the company’s stock.

Key Stories Impacting Dime Community Bancshares

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
• Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
• Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
• Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
• Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. DA Davidson set a $50.00 price target on Dime Community Bancshares in a report on Thursday, October 22nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.50.

Dime Community Bancshares Company Profile

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.