Basswood Capital Management, L Sells 53,000 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction on Friday, July 31st. The stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the transaction, the director directly owned 6,440 shares in the company, valued at $262,494.40. This represents a 89.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.17, for a total transaction of $851,683.79.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.79, for a total transaction of $445,793.91.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total transaction of $636,069.60.
• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.29, for a total transaction of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Trading Up 1.2%

Shares of DCOM stock opened at $41.71 on Wednesday. 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 company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.67 and a beta of 0.99. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.97. The company has a 50-day simple moving average of $39.50 and a two-hundred day simple moving average of $36.27.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is currently 36.10%.

Hedge Funds Weigh In On Dime Community Bancshares

Several hedge funds have recently made changes to their positions in the stock. Hilton Head Capital Partners LLC bought a new stake in shares of Dime Community Bancshares during the 4th quarter valued at $28,000. Larson Financial Group LLC boosted its stake in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company’s stock worth $30,000 after purchasing an additional 884 shares during the period. Tower Research Capital LLC TRC grew its holdings in Dime Community Bancshares by 326.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock valued at $156,000 after buying an additional 4,446 shares in the last quarter. iSAM Funds UK Ltd purchased a new position in Dime Community Bancshares during the 3rd quarter valued at about $169,000. Finally, Maryland State Retirement & Pension System bought a new stake in shares of Dime Community Bancshares during the first quarter valued at about $202,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. DA Davidson lifted 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. Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $39.75.

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.