Dime Community Bancshares (NASDAQ:DCOM) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Dime Community Bancshares shares moved above their 200-day moving average, reaching $41.21 and last trading near $41.07 versus the $37.63 average. The company has a $1.81 billion market capitalization and a P/E ratio of 17.40.
• The bank reported quarterly EPS of $0.79, matching analyst estimates, while revenue of $128.41 million exceeded expectations of $123.46 million. Analysts project full-year EPS of $3.06.
• Dime declared a quarterly dividend of $0.25, equivalent to $1.00 annually and a 2.4% yield, while insiders sold 167,346 shares worth approximately $6.8 million over the past 90 days.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.63 and traded as high as $41.21. Dime Community Bancshares shares last traded at $41.0680, with a volume of 275,631 shares changing hands.

Dime Community Bancshares Trading Up 0.9%

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 firm has a fifty day simple moving average of $40.44 and a two-hundred day simple moving average of $37.63. The firm has a market cap of $1.81 billion, a PE ratio of 17.40 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The savings and loans company reported $0.79 EPS for the quarter, hitting the consensus estimate of $0.79. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The business had revenue of $128.41 million during the quarter, compared to analyst estimates of $123.46 million. During the same period in the prior year, the business earned $0.64 EPS. Equities analysts forecast that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares's dividend payout ratio is presently 36.10%.

Insider Activity

In other Dime Community Bancshares news, Director Basswood Capital Management, L sold 7,170 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00. Following the transaction, the director owned 6,099 shares in the company, valued at approximately $252,498.60. This represents a 54.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Raymond A. Nielsen sold 1,800 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $41.73, for a total value of $75,114.00. Following the completion of the transaction, the director directly owned 32,400 shares of the company's stock, valued at $1,352,052. This represents a 5.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 167,346 shares of company stock valued at $6,784,173 over the last 90 days. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dime Community Bancshares

Several hedge funds have recently made changes to their positions in DCOM. Benjamin Edwards Inc. increased its stake in shares of Dime Community Bancshares by 2.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 17,519 shares of the savings and loans company's stock worth $712,000 after acquiring an additional 423 shares in the last quarter. Hilton Head Capital Partners LLC boosted its stake in Dime Community Bancshares by 54.5% during the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company's stock worth $49,000 after acquiring an additional 512 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in Dime Community Bancshares by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company's stock worth $718,000 after acquiring an additional 683 shares in the last quarter. Nykredit A S purchased a new stake in Dime Community Bancshares in the second quarter worth about $35,000. Finally, Gator Capital Management LLC grew its holdings in Dime Community Bancshares by 0.9% in the fourth quarter. Gator Capital Management LLC now owns 110,185 shares of the savings and loans company's stock worth $3,315,000 after purchasing an additional 955 shares during the period. 75.27% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the holding company for Dime Community Bank, a commercial bank serving businesses, homeowners and consumers in the New York metropolitan area. The company is headquartered in Hauppauge, New York, and operates branches primarily across Long Island and in the boroughs of Brooklyn and Queens.

Dime Community Bank provides deposit accounts, commercial and residential real estate lending, commercial and industrial loans, consumer lending, cash-management services and other banking products.

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