Dime Community Bancshares (NASDAQ:DCOM) Director Sells 2,631 Shares of Stock

Key Points

• Basswood Capital Management sold 2,631 Dime Community Bancshares shares at an average price of $42.38, generating $111,501.78 and reducing its ownership by 33.89% to 5,133 shares.
• The sale followed a broader series of Basswood disposals, including 90,000 shares sold for about $3.84 million on October 23, signaling significant institutional selling pressure.
• Dime Community reported stronger-than-expected quarterly results, with $0.91 in earnings per share and $135.35 million in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $45.50, above the reported $42.30 share price.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 2,631 shares of the business's stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $42.38, for a total value of $111,501.78. Following the sale, the director owned 5,133 shares of the company's stock, valued at approximately $217,536.54. This represents a 33.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.02, for a total transaction of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.51, for a total transaction of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total transaction 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 transaction 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 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.

Dime Community Bancshares Price Performance

DCOM stock traded up $0.44 during mid-day trading on Thursday, hitting $42.30. The company had a trading volume of 260,501 shares, compared to its average volume of 318,585. The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 17.92 and a beta of 1.01. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $43.38. The company has a 50-day moving average price of $40.23 and a 200 day moving average price of $37.37. 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 (NASDAQ:DCOM - Get Free Report) last posted its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 9.12% and a net margin of 15.15%. During the same period in the prior year, the company earned $0.59 EPS. On average, 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares's dividend payout ratio is 32.47%.

More 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

A number of equities analysts have recently issued reports on DCOM shares. Piper Sandler reissued an "overweight" rating and set a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods raised their target price on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the company an "outperform" rating in a research report on Wednesday, October 21st. Finally, DA Davidson set a $50.00 price target on shares of Dime Community Bancshares in a report on Thursday, October 22nd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DCOM. Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Dime Community Bancshares during the 3rd quarter worth approximately $201,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at $657,000. USA Financial Formulas purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter valued at $73,000. Tidal Investments LLC acquired a new stake in shares of Dime Community Bancshares in the 2nd quarter worth $302,000. Finally, Squarepoint Ops LLC boosted its position in shares of Dime Community Bancshares by 2.7% in the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company's stock worth $2,643,000 after purchasing an additional 1,686 shares in the last quarter. Hedge funds and other 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, 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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