Dime Community Bancshares (NASDAQ:DCOM) Director Sells $50,640.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Joseph Perry sold 3,000 shares of Dime Community Bancshares stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $16.88, for a total value of $50,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Dime Community Bancshares Stock Down 1.4%

DCOM stock opened at $41.73 on Friday. The business’s 50-day moving average is $40.31 and its two-hundred day moving average is $37.49. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 17.68 and a beta of 1.01. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $43.38. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, topping 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 firm had revenue of $135.35 million for the quarter, compared to analysts’ expectations of $131.16 million. During the same quarter in the prior year, the business earned $0.59 EPS. As a group, analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were given 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 dividend payout ratio is presently 32.47%.

Trending Headlines about Dime Community Bancshares

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
• Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
• Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
• Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
• Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

Analyst Ratings Changes

A number of equities analysts have weighed in on DCOM shares. DA Davidson set a $50.00 price target on shares of Dime Community Bancshares in a research report on Thursday, October 22nd. Piper Sandler reissued an “overweight” rating and set a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a research note on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods increased their price objective 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. Four research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $45.50.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in DCOM. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Dime Community Bancshares in the 3rd quarter valued at about $201,000. Counterpoint Mutual Funds LLC bought a new stake in Dime Community Bancshares in the third quarter worth $657,000. USA Financial Formulas bought a new stake in Dime Community Bancshares in the third quarter worth $73,000. Tidal Investments LLC purchased a new position in Dime Community Bancshares during the second quarter worth $302,000. Finally, Squarepoint Ops LLC grew its holdings in Dime Community Bancshares by 2.7% during the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock valued at $2,643,000 after purchasing an additional 1,686 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

About Dime Community Bancshares

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.