Dime Community Bancshares (NASDAQ:DCOM) EVP Judy Wu Sells 887 Shares of Company Stock

Key Points

• Executive vice president Judy Wu sold 887 Dime Community Bancshares shares at an average price of $42.33, generating $37,546.71 and reducing her direct holdings by 18.6% to 3,882 shares.
• Dime Community Bancshares reported quarterly EPS of $0.91, exceeding estimates by $0.05, while revenue of $135.35 million also surpassed forecasts. The company pays a quarterly dividend of $0.25, equivalent to a 2.4% yield.
• Analysts maintain a “Moderate Buy” consensus with a $45.50 average price target; institutional investors own 75.27% of the stock.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) EVP Judy Wu sold 887 shares of the business's stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $42.33, for a total transaction of $37,546.71. Following the transaction, the executive vice president directly owned 3,882 shares of the company's stock, valued at approximately $164,325.06. This represents a 18.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Dime Community Bancshares Price Performance

Dime Community Bancshares stock traded down $0.87 during midday trading on Wednesday, reaching $41.65. 204,730 shares of the stock were exchanged, 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 debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.84 billion, a PE ratio of 17.61 and a beta of 1.01. The company's fifty day moving average is $40.21 and its 200-day moving average is $37.31.

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 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The firm had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. During the same period last year, the firm earned $0.59 EPS. On average, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS 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. 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 dividend payout ratio is presently 32.47%.

Analyst Upgrades and Downgrades

DCOM has been the subject of several research analyst reports. DA Davidson set a $50.00 price objective on Dime Community Bancshares in a research note on Thursday, October 22nd. Keefe, Bruyette & Woods upped their target price 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. 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 research note on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.50.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Dime Community Bancshares during the second quarter valued at approximately $251,937,000. Dimensional Fund Advisors LP increased its holdings in shares of Dime Community Bancshares by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company's stock worth $79,602,000 after buying an additional 23,035 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Dime Community Bancshares in the 2nd quarter worth $79,106,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $18,911,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $14,342,000. 75.27% of the stock is currently owned by institutional investors.

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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