Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $1,466,705.76 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 34,333 shares of Dime Community Bancshares stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $42.72, for a total transaction of $1,466,705.76. Following the completion of the sale, the director owned 1,538 shares in the company, valued at approximately $65,703.36. This represents a 95.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, November 3rd, Basswood Capital Management, L sold 29,732 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.72, for a total transaction of $1,270,151.04.
• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total transaction 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 value of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was 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 stock was 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 shares were 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 shares were sold at an average price of $40.59, for a total value of $352,077.66.

Dime Community Bancshares Price Performance

NASDAQ DCOM traded up $1.55 during trading on Wednesday, hitting $43.77. 382,615 shares of the stock traded hands, compared to its average volume of 319,955. The company has a market capitalization of $1.93 billion, a P/E ratio of 18.55 and a beta of 1.01. The firm has a 50-day simple moving average of $40.39 and a 200-day simple moving average of $37.61. 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 12-month low of $25.63 and a 12-month high of $44.23.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data 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 the consensus estimate of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same quarter in the previous year, the company posted $0.59 EPS. As a group, analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares’s payout ratio is currently 32.47%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DCOM. BlackRock Inc. bought a new stake in shares of Dime Community Bancshares in the 2nd quarter worth about $251,937,000. Dimensional Fund Advisors LP boosted its stake in shares of Dime Community Bancshares by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. Basswood Capital Management L.L.C. bought a new position in Dime Community Bancshares during the 2nd quarter valued at about $79,106,000. The Manufacturers Life Insurance Company bought a new position in Dime Community Bancshares during the 2nd quarter valued at about $18,911,000. Finally, Bank of New York Mellon Corp bought a new position in Dime Community Bancshares during the 2nd quarter valued at about $14,342,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

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.