Dime Community Bancshares (NASDAQ:DCOM) Director Sells 3,000 Shares of Stock

Key Points

• Director Joseph Perry sold 3,000 Dime Community Bancshares shares at an average price of $16.88, totaling $50,640; the transaction was disclosed in an SEC filing.
• DCOM shares fell 2.0% to $41.65 during Wednesday trading, while the company reported quarterly EPS of $0.91, exceeding the $0.86 consensus estimate, and revenue of $135.35 million.
• The company maintains a quarterly dividend of $0.25, equivalent to a 2.4% annual yield. Analysts remain generally positive, with a “Moderate Buy” consensus and an average price target of $45.50.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Joseph Perry sold 3,000 shares of the business's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $16.88, for a total transaction of $50,640.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Dime Community Bancshares Stock Down 2.0%

NASDAQ DCOM traded down $0.87 during trading hours on Wednesday, hitting $41.65. The company's stock had a trading volume of 204,730 shares, compared to its average volume of 317,940. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $43.38. The company has a market capitalization of $1.84 billion, a PE ratio of 17.61 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. The company's 50-day simple moving average is $40.21 and its two-hundred day simple moving average is $37.31.

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

Dime Community Bancshares Dividend Announcement

The company also recently disclosed 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 was Friday, October 16th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares's dividend payout ratio (DPR) is 32.47%.

Institutional Trading of Dime Community Bancshares

A number of large investors have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC purchased a new stake in shares of Dime Community Bancshares during the third quarter worth $657,000. USA Financial Formulas bought a new position in shares of Dime Community Bancshares in the third quarter worth $73,000. Tidal Investments LLC purchased a new position in shares of Dime Community Bancshares in the second quarter valued at $302,000. Squarepoint Ops LLC grew its position in shares of Dime Community Bancshares by 2.7% in the second quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company's stock valued at $2,643,000 after purchasing an additional 1,686 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $35,000. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DCOM has been the subject of several recent analyst reports. DA Davidson set a $50.00 target price on Dime Community Bancshares in a report on Thursday, October 22nd. Piper Sandler reissued an "overweight" rating and issued a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. Finally, Keefe, Bruyette & Woods boosted their price objective on Dime Community Bancshares from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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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