Raymond Nielsen Sells 1,650 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond Nielsen sold 1,650 shares of Dime Community Bancshares stock in a transaction on Monday, May 11th. The shares were sold at an average price of $37.09, for a total value of $61,198.50. Following the completion of the transaction, the director owned 35,607 shares of the company’s stock, valued at approximately $1,320,663.63. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Dime Community Bancshares Stock Performance

Shares of NASDAQ DCOM traded down $0.37 during mid-day trading on Monday, hitting $36.85. The company had a trading volume of 316,661 shares, compared to its average volume of 297,411. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.61 and a beta of 1.00. Dime Community Bancshares, Inc. has a 1 year low of $24.57 and a 1 year high of $37.90. 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 stock’s 50-day moving average price is $34.27 and its 200-day moving average price is $31.84.

Dime Community Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were given a $0.25 dividend. The ex-dividend date was Friday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. Dime Community Bancshares’s payout ratio is 37.59%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System grew its position in Dime Community Bancshares by 2.2% in the third quarter. Louisiana State Employees Retirement System now owns 18,800 shares of the savings and loans company’s stock worth $561,000 after acquiring an additional 400 shares in the last quarter. Amalgamated Bank grew its position in Dime Community Bancshares by 3.6% in the third quarter. Amalgamated Bank now owns 11,630 shares of the savings and loans company’s stock worth $347,000 after acquiring an additional 406 shares in the last quarter. Thrivent Financial for Lutherans grew its position in Dime Community Bancshares by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the savings and loans company’s stock worth $878,000 after acquiring an additional 449 shares in the last quarter. Hilton Head Capital Partners LLC grew its position in Dime Community Bancshares by 54.5% in the first quarter. Hilton Head Capital Partners LLC now owns 1,452 shares of the savings and loans company’s stock worth $49,000 after acquiring an additional 512 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Dime Community Bancshares by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company’s stock worth $718,000 after acquiring an additional 683 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on DCOM. Piper Sandler began coverage on shares of Dime Community Bancshares in a report on Monday, March 16th. They issued an “overweight” rating and a $37.00 price target on the stock. Stephens upped their price target on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an “equal weight” rating in a report on Friday, January 23rd. 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 report on Friday, April 24th. Weiss Ratings raised shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, Wall Street Zen cut shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. One investment 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 stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

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.