Basswood Capital Management, L Sells 8,674 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 8,674 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $40.59, for a total value of $352,077.66. Following the transaction, the director owned 32,205 shares of the company’s stock, valued at $1,307,200.95. This represents a 21.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total value of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.96, for a total value of $1,324,441.60.
• 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 value of $851,683.79.
• On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The stock was 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 stock was 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 shares were 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 shares were 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 shares were sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Price Performance

Shares of NASDAQ:DCOM traded up $0.27 on Thursday, reaching $41.18. The company’s stock had a trading volume of 244,209 shares, compared to its average volume of 309,333. The company has a 50-day simple moving average of $39.94 and a 200 day simple moving average of $36.66. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $41.97. 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 cap of $1.82 billion, a P/E ratio of 17.45 and a beta of 0.99.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors 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 dividend on an annualized basis and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 36.10%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. lifted its stake in Dime Community Bancshares by 40,939.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 37,756 shares of the savings and loans company’s stock worth $1,136,000 after purchasing an additional 37,664 shares during the last quarter. UBS Group AG boosted its position in shares of Dime Community Bancshares by 17.6% during the fourth quarter. UBS Group AG now owns 213,325 shares of the savings and loans company’s stock valued at $6,419,000 after buying an additional 31,968 shares during the period. Verition Fund Management LLC grew its stake in shares of Dime Community Bancshares by 19.8% during the fourth quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company’s stock valued at $18,027,000 after buying an additional 99,011 shares during the last quarter. Sei Investments Co. grew its stake in shares of Dime Community Bancshares by 76.8% during the first quarter. Sei Investments Co. now owns 191,407 shares of the savings and loans company’s stock valued at $6,473,000 after buying an additional 83,173 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Dime Community Bancshares by 7.3% during the first quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock valued at $6,439,000 after buying an additional 13,023 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on DCOM shares. DA Davidson boosted their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods raised 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 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.