Dime Community Bancshares (NASDAQ:DCOM) Stock Breaks Above 200-Day Moving Average - Here's Why

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $38.69 and traded as high as $38.94. Dime Community Bancshares shares last traded at $38.4750, with a volume of 281,163 shares trading hands.

Dime Community Bancshares Stock Down 0.1%

The business has a fifty day simple moving average of $40.25 and a two-hundred day simple moving average of $38.69. 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 company has a market cap of $1.70 billion, a PE ratio of 16.30 and a beta of 1.01.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.79. The company had revenue of $128.41 million for the quarter, compared to analysts' expectations of $123.46 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same quarter in the previous year, the company posted $0.64 EPS. As a group, equities research analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 16th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, October 16th. Dime Community Bancshares's dividend payout ratio (DPR) is currently 36.10%.

Insider Transactions at Dime Community Bancshares

In related news, Director Basswood Capital Management, L sold 53,000 shares of the company's 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 completion of the sale, the director owned 6,440 shares of the company's stock, valued at approximately $262,494.40. This represents a 89.17% decrease in their position. The sale 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 company's stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $41.73, for a total transaction of $75,114.00. Following the sale, the director directly owned 32,400 shares of the company's stock, valued at approximately $1,352,052. This represents a 5.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 134,595 shares of company stock worth $5,506,229 over the last 90 days. 7.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at approximately $302,000. Squarepoint Ops LLC increased its holdings in shares of Dime Community Bancshares by 2.7% during the 2nd quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company's stock worth $2,643,000 after buying an additional 1,686 shares during the last quarter. Nykredit A S purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $35,000. HighTower Advisors LLC purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $211,000. Finally, Odyssean LLC purchased a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $203,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the parent company of Dime Community Bank, a community-focused commercial bank serving businesses, individuals and local organizations. The bank provides deposit accounts, commercial and residential real estate lending, multifamily and small-business financing, consumer loans, treasury and cash-management services, and wealth-management solutions.

Dime Community Bank's market is concentrated primarily in Long Island and the New York City metropolitan area, including Brooklyn, Queens, and Manhattan.

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