Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 34,333 Shares of Company Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 34,333 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $42.72, for a total transaction of $1,466,705.76. Following the completion of the transaction, the director directly owned 1,538 shares of the company’s stock, valued at $65,703.36. This trade represents a 95.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, November 3rd, Basswood Capital Management, L sold 29,732 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.72, for a total value of $1,270,151.04.
• 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 Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total value of $1,000,600.38.
• 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 stock was 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 value of $352,077.66.

Dime Community Bancshares Price Performance

DCOM opened at $43.77 on Thursday. The firm has a market capitalization of $1.91 billion, a PE ratio of 18.55 and a beta of 0.98. 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’s 50-day moving average is $40.46 and its two-hundred day moving average is $37.68. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $44.23.

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 the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The business had revenue of $135.35 million during the quarter, compared to analyst estimates of $131.16 million. During the same period in the prior year, the firm posted $0.59 earnings per share. Research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares’s payout ratio is 32.47%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Dime Community Bancshares during the second quarter worth $251,937,000. Dimensional Fund Advisors LP grew its holdings in shares of Dime Community Bancshares by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock valued at $79,602,000 after buying an additional 23,035 shares during the last quarter. Basswood Capital Management L.L.C. acquired a new position in shares of Dime Community Bancshares in the 2nd quarter valued at $79,106,000. The Manufacturers Life Insurance Company acquired a new position in shares of Dime Community Bancshares in the 2nd quarter valued at $18,911,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Dime Community Bancshares in the 2nd quarter valued at $14,342,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.