Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) CTO Sells 2,355 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Michael Fegan sold 2,355 shares of Dime Community Bancshares stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $41.81, for a total value of $98,462.55. Following the transaction, the chief technology officer directly owned 25,618 shares in the company, valued at approximately $1,071,088.58. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Dime Community Bancshares Stock Down 1.4%

Shares of DCOM stock traded down $0.61 during trading on Wednesday, hitting $41.91. 23,884 shares of the company were exchanged, compared to its average volume of 317,147. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 17.74 and a beta of 1.01. The business’s 50-day simple moving average is $40.21 and its 200 day simple moving average is $37.31. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $43.38.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter in the prior year, the firm earned $0.59 EPS. As a group, analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were paid a $0.25 dividend. The ex-dividend date was Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares’s payout ratio is 32.47%.

Institutional Investors Weigh In On Dime Community Bancshares

Several hedge funds and other institutional investors have recently modified their holdings of DCOM. BlackRock Inc. acquired a new position in Dime Community Bancshares during the 2nd quarter valued at $251,937,000. Dimensional Fund Advisors LP increased its holdings in shares of Dime Community Bancshares by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. Basswood Capital Management L.L.C. acquired a new position in shares of Dime Community Bancshares during the second quarter valued at about $79,106,000. The Manufacturers Life Insurance Company acquired a new position in shares of Dime Community Bancshares during the second quarter valued at about $18,911,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Dime Community Bancshares in the second quarter valued at about $14,342,000. Institutional investors and hedge funds own 75.27% of the company’s stock.

Wall Street Analyst Weigh In

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

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.