Dime Community Bancshares (NASDAQ:DCOM) Director Sells $575,730.71 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock in a transaction on Monday, June 15th. The shares were sold at an average price of $39.67, for a total transaction of $575,730.71. Following the completion of the transaction, the director owned 7,163 shares in the company, valued at approximately $284,156.21. This trade represents a 66.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• 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.

Dime Community Bancshares Stock Up 0.5%

DCOM stock opened at $38.97 on Friday. The stock has a market capitalization of $1.72 billion, a PE ratio of 16.51 and a beta of 1.00. The company has a fifty day moving average of $37.05 and a 200-day moving average of $34.03. 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 one year low of $25.63 and a one year high of $40.76.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 17th were given a $0.25 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.6%. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 37.59%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on DCOM shares. Wall Street Zen downgraded Dime Community Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. DA Davidson upped their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Weiss Ratings upgraded Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler assumed coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 target price for the company. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.75.

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors have recently modified their holdings of DCOM. Hilton Head Capital Partners LLC purchased a new stake in shares of Dime Community Bancshares during the 4th quarter worth approximately $28,000. Larson Financial Group LLC increased 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 valued at $30,000 after purchasing an additional 884 shares in the last quarter. iSAM Funds UK Ltd acquired a new position in Dime Community Bancshares during the third quarter worth $169,000. Tower Research Capital LLC TRC raised its holdings in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company’s stock worth $156,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Maryland State Retirement & Pension System purchased a new stake in Dime Community Bancshares during the first quarter worth $202,000. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.