Dime Community Bancshares (NASDAQ:DCOM) Director Sells 1,800 Shares of Stock

Key Points

• Director Raymond Nielsen sold 1,800 Dime Community Bancshares shares at an average price of $41.73, generating $75,114. He retained 32,400 shares after the transaction, reducing his position by 5.26%.
• DCOM shares traded at $40.78, near their 12-month high of $41.97, with a market capitalization of approximately $1.80 billion. The company pays a quarterly dividend of $0.25 per share, equating to a 2.5% yield.
• Analysts maintain a “Moderate Buy” consensus, with one Strong Buy, three Buy, and two Hold ratings, while institutional investors own 75.27% of the company.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Raymond Nielsen sold 1,800 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the sale, the director owned 32,400 shares of the company's stock, valued at approximately $1,352,052. This represents a 5.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dime Community Bancshares Stock Performance

Shares of DCOM traded down $0.30 during midday trading on Friday, reaching $40.78. 19,459 shares of the stock were exchanged, compared to its average volume of 308,686. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock's 50 day simple moving average is $39.66 and its 200 day simple moving average is $36.42. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.97. The company has a market cap of $1.80 billion, a P/E ratio of 17.28 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares's dividend payout ratio is 36.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DCOM. Keefe, Bruyette & Woods upped their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. DA Davidson raised their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $39.75.

Hedge Funds Weigh In On Dime Community Bancshares

Several large investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its stake in shares of Dime Community Bancshares by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock worth $128,281,000 after acquiring an additional 857,001 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Dime Community Bancshares during the 4th quarter valued at approximately $13,321,000. Bank of New York Mellon Corp acquired a new stake in Dime Community Bancshares during the 2nd quarter valued at approximately $14,342,000. Hotchkis & Wiley Capital Management LLC raised its holdings in Dime Community Bancshares by 97.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company's stock worth $12,900,000 after purchasing an additional 212,934 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Dime Community Bancshares by 271.4% during the 3rd quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company's stock worth $7,935,000 after purchasing an additional 194,383 shares during the last quarter. 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.

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