Dime Community Bancshares (NASDAQ:DCOM) Director Sells $1,000,600.38 in Stock

Key Points

• Basswood Capital Management sold 23,538 Dime Community Bancshares shares for approximately $1.00 million, reducing its direct holdings by 81.97% to 5,177 shares. The sale followed several other substantial disposals, including 90,000 shares sold on October 23.
• Dime Community Bancshares reported stronger-than-expected quarterly results, with EPS of $0.91 versus the $0.86 consensus and revenue of $135.35 million compared with estimates of $131.16 million. The company also paid a quarterly dividend of $0.25 per share.
• The stock rose 1.1% to $42.30 and remains near its 52-week high, while analysts maintain a “Moderate Buy” consensus with an average price target of $45.50. Institutional investors own approximately 75.27% of the shares.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 23,538 shares of the stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $42.51, for a total transaction of $1,000,600.38. Following the sale, the director directly owned 5,177 shares in the company, valued at approximately $220,074.27. This represents a 81.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $216,823.20.
• 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 value 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 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 transaction 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 transaction of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were 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 stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00.

Dime Community Bancshares Trading Up 1.1%

Shares of DCOM traded up $0.44 on Thursday, reaching $42.30. 260,501 shares of the company's stock were exchanged, compared to its average volume of 318,585. The business has a 50 day moving average price of $40.23 and a two-hundred day moving average price of $37.37. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $43.38. The stock has a market capitalization of $1.87 billion, a P/E ratio of 17.92 and a beta of 1.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, beating 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 net margin of 15.15% and a return on equity of 9.12%. During the same period last year, the company posted $0.59 EPS. Research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares's payout ratio is 32.47%.

Institutional Inflows and Outflows

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

Trending Headlines about Dime Community Bancshares

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: Dime Community Bancshares declared a quarterly cash dividend of $0.34375 per share on its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A. The dividend is payable November 16 to shareholders of record on November 9, providing continued income support for preferred investors. Preferred stock dividend announcement
• Positive Sentiment: The company’s latest quarterly results remain a supportive backdrop: earnings of $0.91 per share exceeded the $0.86 consensus estimate, while revenue of $135.35 million also topped expectations. Earnings rose from $0.59 per share in the year-earlier quarter.
• Positive Sentiment: Analysts remain constructive following the earnings report. Piper Sandler raised its price target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Neutral Sentiment: DCOM is trading near its 52-week high and above its 50-day and 200-day moving averages, signaling strong momentum but also leaving the stock more exposed to profit-taking.
• Negative Sentiment: EVP Judy Wu sold 887 shares for approximately $37,547, reducing her direct ownership by 18.6%. CTO Michael Fegan and Director Joseph Perry also reported share sales. Individual insider sales can reflect personal financial decisions, but the recent cluster may weigh on sentiment. DCOM insider selling report
• Negative Sentiment: Basswood Capital Management sold 90,000 shares for about $3.84 million on October 23 and another 16,159 shares for about $696,000 on October 26, reducing its reported position by more than 90% overall. The sizable institutional selling is the main near-term negative signal for DCOM.

Wall Street Analyst Weigh In

Several research analysts recently commented on DCOM shares. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Wednesday, October 21st. Piper Sandler restated an "overweight" rating and issued a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a research note on Wednesday, October 21st. Finally, DA Davidson set a $50.00 price target on Dime Community Bancshares in a research report on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.50.

About Dime Community Bancshares

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.

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