Dime Community Bancshares (NASDAQ:DCOM) Director Sells $75,114.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,800 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the completion of the sale, the director owned 32,400 shares in the company, valued at $1,352,052. This represents a 5.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Dime Community Bancshares Price Performance

Shares of Dime Community Bancshares stock opened at $40.34 on Monday. The firm has a market cap of $1.78 billion, a PE ratio of 17.09 and a beta of 0.99. The stock has a 50 day moving average of $39.72 and a 200 day moving average of $36.48. 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 12 month low of $25.63 and a 12 month high of $41.97.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares’s dividend payout ratio is currently 36.10%.

Hedge Funds Weigh In On Dime Community Bancshares

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Dime Community Bancshares during the 2nd quarter valued at $251,937,000. Wellington Management Group LLP boosted its stake in Dime Community Bancshares by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock worth $128,281,000 after buying an additional 857,001 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in Dime Community Bancshares during the fourth quarter worth $13,321,000. Bank of New York Mellon Corp bought a new position in Dime Community Bancshares during the second quarter valued at $14,342,000. Finally, Hotchkis & Wiley Capital Management LLC increased its position in Dime Community Bancshares by 97.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company’s stock valued at $12,900,000 after acquiring an additional 212,934 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DCOM shares. Keefe, Bruyette & Woods boosted their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. DA Davidson lifted 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 note on Monday, April 27th. One investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.