Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $445,793.91 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 10,929 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $40.79, for a total value of $445,793.91. Following the transaction, the director directly owned 6,728 shares in the company, valued at approximately $274,435.12. This represents a 61.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.17, for a total transaction 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 transaction of $2,160,280.00.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were 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 shares were sold at an average price of $39.29, for a total value of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Trading Down 0.4%

Shares of DCOM stock opened at $41.59 on Thursday. The business has a 50-day moving average of $39.59 and a 200 day moving average of $36.34. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $41.97. The stock has a market capitalization of $1.84 billion, a PE ratio of 17.62 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a $0.25 dividend. The ex-dividend date was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 36.10%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC bought a new position in Dime Community Bancshares in the 4th quarter worth $28,000. Larson Financial Group LLC boosted its stake in shares of 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 in the last quarter. iSAM Funds UK Ltd bought a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at about $169,000. Tower Research Capital LLC TRC increased its position in shares of 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 valued at $156,000 after buying an additional 4,446 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in Dime Community Bancshares in the first quarter worth about $202,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DCOM has been the subject of several analyst reports. DA Davidson increased their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their price objective 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 assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

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.