Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) Director Sells $851,683.79 in Stock

Key Points

• Basswood Capital Management sold 20,687 Dime Community Bancshares shares for approximately $851,684, reducing its direct position by 76.38% to 6,396 shares. The sale follows several other disposals by the director totaling more than $5.6 million since June.
• Dime Community Bancshares shares rose 1.1% to $41.22, near their 52-week high of $41.62. The company has a $1.82 billion market capitalization and recently paid a quarterly dividend of $0.25, representing a 2.4% annualized yield.
• Institutional investors own 75.27% of the company, while analysts maintain a broadly positive outlook with a consensus “Moderate Buy” rating and an average price target of $39.75.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 20,687 shares of the firm's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $41.17, for a total transaction of $851,683.79. Following the completion of the sale, the director directly owned 6,396 shares in the company, valued at approximately $263,323.32. This trade represents a 76.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• 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 shares were sold at an average price of $40.08, for a total transaction 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 transaction of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total transaction of $575,730.71.

Dime Community Bancshares Trading Up 1.1%

DCOM stock traded up $0.46 during 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. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $41.62. The business has a 50 day moving average of $39.33 and a 200 day moving average of $36.11. The company has a market cap of $1.82 billion, a P/E ratio of 17.47 and a beta of 0.99.

Dime Community Bancshares Announces Dividend

The company 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. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares's dividend payout ratio is currently 36.10%.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Dime Community Bancshares by 15.7% during the first quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company's stock valued at $645,000 after purchasing an additional 3,135 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Dime Community Bancshares by 132.3% in the 1st quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company's stock worth $4,726,000 after purchasing an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Dime Community Bancshares by 17.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company's stock worth $659,000 after purchasing an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Dime Community Bancshares by 5.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company's stock worth $9,060,000 after buying an additional 18,195 shares during the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Dime Community Bancshares by 5.4% in the 1st quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company's stock worth $2,289,000 after buying an additional 4,231 shares during the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. DA Davidson lifted their price target on 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 raised their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. One 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. According to MarketBeat.com, the company currently has an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source