Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $1,277,944.02 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,751 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the completion of the transaction, the director directly owned 6,785 shares of the company’s stock, valued at approximately $264,750.70. The trade was a 82.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.
• 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 Stock Up 0.2%

Shares of DCOM opened at $39.86 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 52 week low of $25.63 and a 52 week high of $40.76. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 16.89 and a beta of 1.00. The stock has a fifty day moving average of $37.38 and a 200-day moving average of $34.38.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Friday, July 17th will be given a $0.25 dividend. The ex-dividend date is Friday, July 17th. This represents a $1.00 annualized dividend and a yield of 2.5%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 37.59%.

Analysts Set New Price Targets

DCOM has been the subject of several recent research reports. Weiss Ratings raised Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an “overweight” rating and a $37.00 target price on the stock. Wall Street Zen downgraded shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. DA Davidson boosted their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $39.75.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds have recently made changes to their positions in DCOM. Hilton Head Capital Partners LLC acquired a new position in shares of Dime Community Bancshares in the fourth quarter worth approximately $28,000. Larson Financial Group LLC increased its position in Dime Community Bancshares by 742.9% during 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 during the period. iSAM Funds UK Ltd acquired a new stake in Dime Community Bancshares during the 3rd quarter valued at approximately $169,000. Tower Research Capital LLC TRC raised 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 worth $156,000 after purchasing an additional 4,446 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in Dime Community Bancshares during the 1st quarter worth approximately $202,000. 75.27% of the stock is currently owned by institutional investors.

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.