Dime Community Bancshares (NASDAQ:DCOM) Director Sells 16,159 Shares of Stock

Key Points

• Basswood Capital Management sold 16,159 Dime Community Bancshares shares at an average price of $43.05, totaling about $695,645. The transaction reduced its remaining stake by 75.27% to 5,310 shares.
• Dime Community Bancshares reported quarterly EPS of $0.91, exceeding estimates of $0.86, while revenue of $135.35 million also surpassed expectations. The company paid a quarterly dividend of $0.25 per share, equivalent to a 2.4% annual yield.
• Analysts remain broadly positive, with four Buy ratings and two Holds; the stock carries a “Moderate Buy” consensus and an average price target of $45.50, compared with a recent price of $42.51.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 16,159 shares of the firm's stock in a transaction on Monday, October 26th. The stock was sold at an average price of $43.05, for a total value of $695,644.95. Following the completion of the transaction, the director owned 5,310 shares in the company, valued at $228,595.50. This represents a 75.27% decrease in their ownership of the stock. The transaction 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, 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 shares were 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.
• 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 value 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 value of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.79, for a total value of $445,793.91.

Dime Community Bancshares Trading Down 1.0%

NASDAQ DCOM traded down $0.42 during trading on Tuesday, reaching $42.51. 400,588 shares of the stock traded hands, compared to its average volume of 318,599. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of 18.01 and a beta of 1.01. The stock's 50-day moving average price is $40.21 and its 200 day moving average price is $37.31. 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 fifty-two week low of $25.63 and a fifty-two week high of $43.38.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $135.35 million during 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 quarter in the prior year, the firm earned $0.59 earnings per share. Analysts predict that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

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. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares's payout ratio is 32.47%.

Analyst Ratings Changes

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

Institutional Trading of Dime Community Bancshares

Several hedge funds have recently bought and sold shares of the stock. Nykredit A S bought a new position in Dime Community Bancshares in the second quarter valued at approximately $35,000. USA Financial Formulas acquired a new position in shares of Dime Community Bancshares in the third quarter valued at approximately $73,000. Maryland State Retirement & Pension System bought a new stake in shares of Dime Community Bancshares during the first quarter worth $202,000. Odyssean LLC bought a new stake in shares of Dime Community Bancshares during the second quarter worth $203,000. Finally, HighTower Advisors LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at $211,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

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.

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