Dime Community Bancshares (NASDAQ:DCOM) Director Sells $216,823.20 in Stock

Key Points

• Basswood Capital Management sold 5,160 Dime Community Bancshares shares for approximately $216,823 at an average price of $42.02, reducing its direct position by 50.06% to 5,148 shares. The sale followed several other substantial disposals by Basswood.
• Dime Community Bancshares reported quarterly EPS of $0.91, exceeding the $0.86 analyst consensus, while revenue of $135.35 million also topped estimates. The company paid a quarterly dividend of $0.25 per share, representing a 2.4% yield.
• The stock traded near its 52-week high at $42.30, while analysts maintained a “Moderate Buy” consensus and an average price target of $45.50, with recent targets ranging from $47 to $50.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 5,160 shares of the company's stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $42.02, for a total transaction of $216,823.20. Following the sale, the director directly owned 5,148 shares in the company, valued at $216,318.96. This trade represents a 50.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 stock was sold at an average price of $42.38, for a total transaction of $111,501.78.
• 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 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 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 transaction of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was 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 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 stock was sold at an average price of $40.76, for a total transaction of $2,160,280.00.

Dime Community Bancshares Price Performance

DCOM traded up $0.44 during trading on Thursday, reaching $42.30. The stock had a trading volume of 260,501 shares, compared to its average volume of 318,585. The stock has a market cap of $1.87 billion, a PE ratio of 17.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $43.38. The business has a 50-day moving average of $40.23 and a 200-day moving average of $37.37.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. The firm had revenue of $135.35 million during the quarter, compared to analyst estimates of $131.16 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, equities research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current fiscal year.

Dime Community Bancshares Announces Dividend

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

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of DCOM. BlackRock Inc. bought a new stake in shares of Dime Community Bancshares during the second quarter valued at approximately $251,937,000. Basswood Capital Management L.L.C. bought a new position in shares of Dime Community Bancshares in the 2nd quarter valued at about $79,106,000. The Manufacturers Life Insurance Company purchased a new position in Dime Community Bancshares in the second quarter worth about $18,911,000. Bank of New York Mellon Corp bought a new stake in Dime Community Bancshares during the second quarter worth approximately $14,342,000. Finally, Bank of America Corp DE bought a new stake in Dime Community Bancshares during the second quarter worth approximately $9,631,000. Hedge funds and other institutional investors own 75.27% of the company's stock.

Key Dime Community Bancshares News

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.

Analysts Set New Price Targets

Several research firms recently commented on DCOM. DA Davidson set a $50.00 target price on shares of Dime Community Bancshares in a report on Thursday, October 22nd. Keefe, Bruyette & Woods increased their price objective on Dime Community Bancshares from $47.00 to $49.00 and gave the company 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 given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $45.50.

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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