Dime Community Bancshares (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 2,631 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 2,631 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $42.38, for a total value of $111,501.78. Following the completion of the transaction, the director directly owned 5,133 shares in the company, valued at $217,536.54. This trade represents a 33.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total value of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total value of $695,644.95.
• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.68, for a total value of $3,841,200.00.
• 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 Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.59, for a total value of $352,077.66.
• 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 value of $2,160,280.00.

Dime Community Bancshares Stock Up 1.1%

Shares of NASDAQ:DCOM opened at $42.30 on Friday. 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, Inc. has a 1 year low of $25.63 and a 1 year high of $43.38. The stock has a market capitalization of $1.87 billion, a P/E ratio of 17.92 and a beta of 1.01. The stock has a 50-day simple moving average of $40.28 and a 200-day simple moving average of $37.43.

Dime Community Bancshares (NASDAQ:DCOM) last posted 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 firm 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 company earned $0.59 EPS. Equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DCOM shares. Piper Sandler reissued an “overweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. DA Davidson set a $50.00 target price on shares of Dime Community Bancshares in a research note on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods lifted their target price 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 analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares has an average rating of “Moderate Buy” and an average price target of $45.50.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at about $201,000. Counterpoint Mutual Funds LLC acquired a new position in Dime Community Bancshares during the 3rd quarter worth approximately $657,000. USA Financial Formulas acquired a new position in Dime Community Bancshares during the 3rd quarter worth approximately $73,000. Tidal Investments LLC purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $302,000. Finally, Squarepoint Ops LLC boosted its holdings in Dime Community Bancshares by 2.7% in the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock worth $2,643,000 after acquiring an additional 1,686 shares during the period. Institutional investors and hedge funds own 75.27% of the company’s stock.

Key Headlines Impacting Dime Community Bancshares

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

• 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-focused investor interest, although it applies to preferred rather than common shares. Preferred stock dividend announcement
• Positive Sentiment: Recent quarterly results provide a fundamental tailwind: DCOM reported earnings of $0.91 per share versus the $0.86 consensus estimate, while revenue of $135.35 million exceeded expectations. Earnings also increased from $0.59 per share a year earlier.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler, Keefe, Bruyette & Woods, and DA Davidson raised or established price targets ranging from $47 to $50. The consensus rating is “Moderate Buy,” with an average target of $45.50.
• Neutral Sentiment: DCOM’s common stock remains above its 50-day and 200-day moving averages and close to its 52-week high, reflecting strong momentum but leaving the shares vulnerable to profit-taking.
• Negative Sentiment: Basswood Capital Management, a director-level holder, sold an additional 2,631 shares for approximately $111,500 on October 29, following sales of 5,160 shares on October 28 and 23,538 shares on October 27. These transactions left Basswood with only about 5,133 shares.
• Negative Sentiment: The latest activity adds to Basswood’s large disposals of 90,000 shares on October 23 and 16,159 shares on October 26. The sharp reduction in a major holder’s position may weigh on sentiment and signal profit-taking after the stock’s rally. SEC insider transaction filing
• Negative Sentiment: EVP Judy Wu also sold 887 shares, while CTO Michael Fegan and Director Joseph Perry previously reported sales. The cluster of insider transactions is the primary near-term negative catalyst, despite the company’s solid earnings and dividend profile.

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.