Dime Community Bancshares Inc. (DCOM) Sees Large Volume Increase
Dime Community Bancshares Inc. (NASDAQ:DCOM) shares saw strong trading volume on Tuesday . 237,043 shares traded hands during mid-day trading, an increase of 71% from the previous session’s volume of 138,524 shares.The stock last traded at $17.55 and had previously closed at $17.69.
A number of equities research analysts have commented on the stock. Zacks Investment Research cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. Piper Jaffray Cos. lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and set a $19.00 price objective on the stock. in a research note on Friday, June 3rd.
The firm’s 50-day moving average price is $17.51 and its 200-day moving average price is $17.31. The firm has a market cap of $642.14 million and a PE ratio of 7.74.
Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Thursday, April 28th. The company reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $1.07. On average, equities research analysts anticipate that Dime Community Bancshares Inc. will post $1.31 EPS for the current fiscal year.
In related news, EVP Michael Pucella sold 3,863 shares of the company’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $17.61, for a total transaction of $68,027.43. Following the completion of the sale, the executive vice president now directly owns 20,992 shares in the company, valued at approximately $369,669.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Vincent F. Palagiano sold 95,888 shares of the company’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $18.08, for a total transaction of $1,733,655.04. Following the sale, the chief executive officer now owns 748,820 shares of the company’s stock, valued at $13,538,665.60. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the stock. Mutual of America Capital Management LLC raised its stake in Dime Community Bancshares by 9.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 209,890 shares of the company’s stock worth $3,671,000 after buying an additional 17,765 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in Dime Community Bancshares by 123.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 81,661 shares of the company’s stock worth $1,428,000 after buying an additional 45,061 shares in the last quarter. Polaris Capital Management LLC raised its stake in Dime Community Bancshares by 22.9% in the fourth quarter. Polaris Capital Management LLC now owns 985,689 shares of the company’s stock worth $17,240,000 after buying an additional 183,570 shares in the last quarter. Finally, Pear Tree Advisors Inc. purchased a new stake in Dime Community Bancshares during the fourth quarter worth approximately $1,695,000.
Dime Community Bancshares, Inc operates as a holding company for The Dime Savings Bank of Williamsburgh (the Bank), a chartered savings bank. The Company is a unitary savings and loan holding company. The Company operates through Community Banking segment. The Bank’s principal business is gathering retail deposits, and lending them primarily in multifamily residential, commercial real estate and mixed use loans, as well as investing in mortgage-backed securities (MBS), obligations of the United States Government and Government Sponsored Entities (GSEs), and corporate debt and equity securities.