Basswood Capital Management, L Sells 10,929 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 10,929 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $40.79, for a total transaction of $445,793.91. Following the transaction, the director owned 6,728 shares of the company’s stock, valued at approximately $274,435.12. The trade was a 61.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction of $851,683.79.
• 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 transaction of $2,160,280.00.
• 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 transaction 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 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 shares were sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Stock Performance

NASDAQ DCOM opened at $41.71 on Wednesday. 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 business’s 50 day moving average is $39.50 and its two-hundred day moving average is $36.27. Dime Community Bancshares, Inc. has a 12-month low of $25.63 and a 12-month high of $41.97. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.67 and a beta of 0.99.

Dime Community Bancshares Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DCOM shares. Keefe, Bruyette & Woods upped their price target on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. DA Davidson raised their price objective on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.75.

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. Empowered Funds LLC grew its holdings in shares of Dime Community Bancshares by 7.3% during the first quarter. Empowered Funds LLC now owns 190,377 shares of the savings and loans company’s stock worth $6,439,000 after buying an additional 13,023 shares in the last quarter. Bank of America Corp DE boosted its position in Dime Community Bancshares by 19.8% during the first quarter. Bank of America Corp DE now owns 328,789 shares of the savings and loans company’s stock worth $11,120,000 after acquiring an additional 54,382 shares during the last quarter. Amundi acquired a new stake in Dime Community Bancshares during the first quarter worth approximately $228,000. Royal Bank of Canada grew its stake in Dime Community Bancshares by 11.7% in the 1st quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company’s stock worth $315,000 after acquiring an additional 979 shares during the period. Finally, Quantinno Capital Management LP grew its stake in Dime Community Bancshares by 49.5% in the 1st quarter. Quantinno Capital Management LP now owns 49,434 shares of the savings and loans company’s stock worth $1,672,000 after acquiring an additional 16,363 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.

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.