Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 29,732 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 29,732 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $42.72, for a total value of $1,270,151.04. Following the completion of the transaction, the director directly owned 1,531 shares in the company, valued at approximately $65,404.32. The trade was a 95.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Monday, November 2nd, Basswood Capital Management, L sold 34,333 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.72, for a total value of $1,466,705.76.
• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.38, for a total value of $111,501.78.
• 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $352,077.66.

Dime Community Bancshares Stock Down 3.0%

Shares of NASDAQ:DCOM opened at $42.42 on Friday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 17.98 and a beta of 0.98. The firm’s 50-day simple moving average is $40.50 and its 200-day simple moving average is $37.73. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $44.89.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly 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 business had revenue of $135.35 million for the quarter, compared to analyst estimates 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 period in the previous year, the business posted $0.59 earnings per share. As a group, equities research analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were issued a $0.25 dividend. 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 currently 32.47%.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new position in shares of Dime Community Bancshares in the 2nd quarter valued at about $9,631,000. Legal & General Group Plc purchased a new stake in Dime Community Bancshares during the second quarter worth about $3,904,000. BlackRock Inc. purchased a new stake in Dime Community Bancshares during the second quarter worth about $251,937,000. Deutsche Bank AG purchased a new stake in Dime Community Bancshares during the second quarter worth about $1,782,000. Finally, Empowered Funds LLC acquired a new position in Dime Community Bancshares during the second quarter worth about $8,149,000. 75.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on DCOM shares. DA Davidson set a $50.00 target price on Dime Community Bancshares in a research report on Thursday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods lifted their price target on Dime Community Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Dime Community Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.50.

Dime Community Bancshares Company Profile

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.