Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) EVP Sells $37,546.71 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) EVP Judy Wu sold 887 shares of the firm’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $42.33, for a total value of $37,546.71. Following the sale, the executive vice president directly owned 3,882 shares in the company, valued at approximately $164,325.06. The trade was a 18.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Dime Community Bancshares Price Performance

DCOM opened at $41.73 on Friday. The firm has a market capitalization of $1.84 billion, a PE ratio of 17.68 and a beta of 1.01. The business’s 50-day moving average is $40.31 and its two-hundred day moving average is $37.49. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $43.38. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.05. The business had revenue of $135.35 million for the quarter, compared to analyst estimates of $131.16 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period in the previous year, the company earned $0.59 earnings per share. Research analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, October 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is 32.47%.

Institutional Trading of Dime Community Bancshares

Several institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dime Community Bancshares in the 3rd quarter worth $201,000. Counterpoint Mutual Funds LLC acquired a new position in Dime Community Bancshares during the third quarter worth $657,000. USA Financial Formulas purchased a new position in Dime Community Bancshares during the third quarter valued at $73,000. Tidal Investments LLC purchased a new position in Dime Community Bancshares during the second quarter valued at $302,000. Finally, Squarepoint Ops LLC grew its position in shares of Dime Community Bancshares by 2.7% in the second quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock valued at $2,643,000 after purchasing an additional 1,686 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. DA Davidson set a $50.00 price objective on shares of Dime Community Bancshares in a research note on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.50.

Key Dime Community Bancshares News

Here are the key news stories impacting Dime Community Bancshares this week:

• Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
• Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
• Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
• Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
• Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
• Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company’s primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.

Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.