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 Dime Community Bancshares stock in a transaction 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 sale, the director directly owned 6,153 shares of the company’s stock, valued at approximately $252,026.88. The trade was a 84.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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 shares were sold at an average price of $40.76, for a total value of $2,160,280.00.
• 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 value 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 value 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 Up 0.7%

DCOM stock traded up $0.27 during trading hours on Thursday, hitting $41.18. The company’s stock had a trading volume of 244,209 shares, compared to its average volume of 309,333. The stock has a 50 day moving average price of $39.94 and a two-hundred day moving average price of $36.66. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $41.97. The company has a market capitalization of $1.82 billion, a PE ratio of 17.45 and a beta of 0.99. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date 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 is currently 36.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. DA Davidson raised their target price 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 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. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Dime Community Bancshares during the 4th quarter worth $28,000. Larson Financial Group LLC lifted its position in Dime Community Bancshares by 742.9% during the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after acquiring an additional 884 shares during the last quarter. iSAM Funds UK Ltd acquired a new position in Dime Community Bancshares during the 3rd quarter worth $169,000. Tower Research Capital LLC TRC boosted its holdings in Dime Community Bancshares by 326.4% during the second 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. Finally, Maryland State Retirement & Pension System bought a new stake in Dime Community Bancshares during the first quarter valued at about $202,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.