Basswood Capital Management, L Sells 7,170 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 7,170 shares of the company’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.40, for a total transaction of $296,838.00. Following the completion of the sale, the director owned 6,099 shares in the company, valued at approximately $252,498.60. This trade represents a 54.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.96, for a total transaction of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.59, for a total transaction of $352,077.66.
• On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.17, for a total value 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 value of $2,160,280.00.
• On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.79, for a total value of $445,793.91.
• On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02.
• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.08, for a total value 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 value of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Trading Down 0.6%

NASDAQ DCOM opened at $40.95 on Friday. 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 cap of $1.81 billion, a P/E ratio of 17.35 and a beta of 0.99. The stock’s fifty day moving average price is $40.08 and its 200-day moving average price is $36.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Stockholders of record on Friday, July 17th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, July 17th. Dime Community Bancshares’s payout ratio is currently 36.10%.

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Dime Community Bancshares in the second quarter worth $251,937,000. Wellington Management Group LLP boosted its position in shares of Dime Community Bancshares by 25.2% during the fourth quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company’s stock valued at $128,281,000 after buying an additional 857,001 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Dime Community Bancshares in the 2nd quarter worth about $18,911,000. Adage Capital Partners GP L.L.C. bought a new stake in Dime Community Bancshares in the 4th quarter worth about $13,321,000. Finally, Bank of New York Mellon Corp purchased a new position in Dime Community Bancshares in the 2nd quarter worth about $14,342,000. Institutional investors own 75.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson increased 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 report on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.75.

Dime Community Bancshares Company Profile

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.