Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells 7,170 Shares of Stock

Key Points

• Basswood Capital Management sold 7,170 Dime Community Bancshares shares at an average price of $41.40, generating $296,838. Following the sale, its direct ownership fell 54.04% to 6,099 shares.
• The transaction follows several other Basswood sales, including more than 32,000 shares sold the previous day and additional sizable disposals in late July and June.
• DCOM shares rose 0.7% to $41.18, near their 12-month high, while the company maintains a quarterly dividend of $0.25 per share, equivalent to a 2.4% yield. Analysts hold a consensus “Moderate Buy” rating with a $39.75 price target.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 7,170 shares of the company's stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $41.40, for a total transaction of $296,838.00. Following the transaction, the director directly owned 6,099 shares of the company's stock, valued at approximately $252,498.60. This trade represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 shares were 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 shares were sold at an average price of $40.76, for a total value of $2,160,280.00.
• 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 value 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 value of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was 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 Trading Up 0.7%

DCOM stock traded up $0.27 on Thursday, reaching $41.18. The company's stock had a trading volume of 244,209 shares, compared to its average volume of 309,333. The business has a fifty day simple moving average of $39.94 and a two-hundred day simple moving average of $36.66. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $41.97. The firm has a market cap of $1.82 billion, a PE ratio of 17.45 and a beta of 0.99. 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 Announces Dividend

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

Institutional Trading of Dime Community Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of DCOM. BlackRock Inc. purchased a new stake in Dime Community Bancshares in the second quarter worth about $251,937,000. Wellington Management Group LLP increased its position in Dime Community Bancshares by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock valued at $128,281,000 after buying an additional 857,001 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Dime Community Bancshares by 1.0% during the 1st 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 buying an additional 23,035 shares in the last quarter. State Street Corp raised its stake in Dime Community Bancshares by 0.5% during the fourth quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company's stock valued at $54,885,000 after buying an additional 8,936 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in Dime Community Bancshares by 19.8% during the fourth quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company's stock valued at $18,027,000 after buying an additional 99,011 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Dime Community Bancshares Company Profile

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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