Dime Community Bancshares (NASDAQ:DCOM) Stock Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Dime Community Bancshares, Inc. (NASDAQ:DCOM) passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred 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 changing hands.

Dime Community Bancshares Trading Up 1.9%

The business has a 50 day moving average price of $40.13 and a 200 day moving average price of $38.77. 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 capitalization of $1.71 billion, a P/E ratio of 16.42 and a beta of 1.01.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings results on Thursday, July 23rd. The savings and loans company reported $0.79 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.79. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The company had revenue of $128.41 million for the quarter, compared to analysts’ expectations of $123.46 million. During the same period last year, the firm posted $0.64 earnings per share. Analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.

Dime Community Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 23rd. Investors of record on Friday, October 16th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 36.10%.

Insider Buying and Selling

In other news, Director Basswood Capital Management, L sold 53,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director directly owned 6,440 shares of the company’s stock, valued at $262,494.40. This trade represents a 89.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond A. Nielsen sold 1,800 shares of the business’s stock in a transaction dated Thursday, August 6th. The stock was 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 in the company, valued at $1,352,052. This trade represents a 5.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 134,595 shares of company stock valued at $5,506,229. Insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Dime Community Bancshares

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Dime Community Bancshares in the second quarter worth $251,937,000. Dimensional Fund Advisors LP increased its holdings in shares of Dime Community Bancshares by 1.0% during the first quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after buying an additional 23,035 shares in the last quarter. Basswood Capital Management L.L.C. bought a new position in Dime Community Bancshares in the second quarter valued at about $79,106,000. The Manufacturers Life Insurance Company bought a new stake in Dime Community Bancshares during the 2nd quarter worth approximately $18,911,000. Finally, Bank of New York Mellon Corp acquired a new stake in Dime Community Bancshares in the second quarter valued at $14,342,000. Institutional investors own 75.27% of the company’s stock.

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.