Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 32,751 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,751 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02. Following the completion of the transaction, the director directly owned 6,785 shares in the company, valued at $264,750.70. The trade was a 82.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total value 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 Up 1.3%

Shares of Dime Community Bancshares stock opened at $39.68 on Wednesday. The company has a market capitalization of $1.75 billion, a P/E ratio of 16.81 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50-day moving average of $37.24 and a two-hundred day moving average of $34.24. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $40.76.

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Hilton Head Capital Partners LLC bought a new position in shares of Dime Community Bancshares during the 4th quarter worth approximately $28,000. Larson Financial Group LLC raised its stake in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock valued at $30,000 after acquiring an additional 884 shares during the period. Tower Research Capital LLC TRC raised its stake in Dime Community Bancshares by 326.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after acquiring an additional 4,446 shares during the period. iSAM Funds UK Ltd acquired a new stake in Dime Community Bancshares during the 3rd quarter valued at $169,000. Finally, Maryland State Retirement & Pension System acquired a new stake in Dime Community Bancshares during the 1st quarter valued at $202,000. Institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on DCOM. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 price target on the stock. DA Davidson increased their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, Keefe, Bruyette & Woods increased their target price 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 equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.