Dime Community Bancshares (NASDAQ:DCOM) Director Sells $61,198.50 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,650 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the transaction, the director directly owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. This represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Dime Community Bancshares Trading Down 1.0%

NASDAQ:DCOM traded down $0.37 during trading hours on Monday, hitting $36.85. 316,661 shares of the company were exchanged, compared to its average volume of 297,411. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.61 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a one year low of $24.57 and a one year high of $37.90. The company has a fifty day simple moving average of $34.27 and a 200 day simple moving average of $31.84.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DCOM. Stephens raised their target price on Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. DA Davidson increased their price target on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Piper Sandler assumed coverage on Dime Community Bancshares in a report on Monday, March 16th. They set an “overweight” rating and a $37.00 price target for the company. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, Keefe, Bruyette & Woods increased 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its stake in Dime Community Bancshares by 2.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company’s stock valued at $561,000 after purchasing an additional 400 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Dime Community Bancshares by 3.6% in the 3rd quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock worth $347,000 after purchasing an additional 406 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Dime Community Bancshares by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock worth $878,000 after purchasing an additional 449 shares during the period. Hilton Head Capital Partners LLC raised its holdings in shares of Dime Community Bancshares by 54.5% in the 1st quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock worth $49,000 after purchasing an additional 512 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in Dime Community Bancshares by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock valued at $718,000 after acquiring an additional 683 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

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.