Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $2,160,280.00 in Stock

Key Points

• Basswood Capital Management sold 53,000 Dime Community Bancshares shares at an average price of $40.76, generating $2.16 million and reducing its ownership by 89.17% to 6,440 shares.
• DCOM shares traded near a 12-month high at $41.22, while the company maintained a quarterly dividend of $0.25 per share, equivalent to a 2.4% yield.
• Analysts hold a “Moderate Buy” consensus with a $39.75 average price target, and institutional investors collectively own 75.27% of the company.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $40.76, for a total transaction of $2,160,280.00. Following the sale, the director owned 6,440 shares in the company, valued at approximately $262,494.40. This trade represents a 89.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.17, for a total transaction of $851,683.79.
• 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 transaction of $445,793.91.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.08, for a total value of $636,069.60.
• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.29, for a total value of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Price Performance

Shares of DCOM traded up $0.46 during mid-day trading on Monday, reaching $41.22. The company had a trading volume of 258,793 shares, compared to its average volume of 305,344. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $1.82 billion, a P/E ratio of 17.47 and a beta of 0.99. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.62. The company's 50-day moving average is $39.33 and its 200-day moving average is $36.11.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Friday, July 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, July 17th. Dime Community Bancshares's dividend payout ratio is currently 36.10%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Dime Community Bancshares by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock worth $128,281,000 after acquiring an additional 857,001 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Dime Community Bancshares by 1.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company's stock valued at $79,602,000 after purchasing an additional 23,035 shares in the last quarter. State Street Corp raised its position in Dime Community Bancshares by 0.5% in the 4th quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company's stock worth $54,885,000 after purchasing an additional 8,936 shares during the last quarter. Verition Fund Management LLC raised its position in Dime Community Bancshares by 19.8% in the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company's stock worth $18,027,000 after purchasing an additional 99,011 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dime Community Bancshares by 9.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,598 shares of the savings and loans company's stock worth $16,116,000 after buying an additional 44,122 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DCOM shares. Keefe, Bruyette & Woods boosted their target price on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. DA Davidson increased their target price on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.

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