Dime Community Bancshares (NASDAQ:DCOM) Director Sells $2,160,280.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction on Friday, July 31st. The stock was sold at an average price of $40.76, for a total value of $2,160,280.00. Following the transaction, the director directly owned 6,440 shares of the company’s stock, valued at $262,494.40. This trade represents a 89.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 transaction of $851,683.79.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were 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 Down 0.4%

DCOM stock opened at $41.59 on Thursday. 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 company’s 50 day simple moving average is $39.59 and its 200-day simple moving average is $36.34. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97. The firm has a market capitalization of $1.84 billion, a PE ratio of 17.62 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

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

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently modified their holdings of DCOM. Royal Bank of Canada grew its stake in Dime Community Bancshares by 15.7% in the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock worth $645,000 after acquiring an additional 3,135 shares during the period. AQR Capital Management LLC raised its holdings in Dime Community Bancshares by 132.3% in the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock valued at $4,726,000 after acquiring an additional 96,523 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Dime Community Bancshares by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock worth $659,000 after purchasing an additional 3,443 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Dime Community Bancshares by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock worth $9,060,000 after purchasing an additional 18,195 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Dime Community Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock worth $2,289,000 after purchasing an additional 4,231 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. DA Davidson increased their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares currently has an average 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.