Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Joseph Perry Sells 3,000 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Joseph Perry sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $16.88, for a total transaction of $50,640.00. The sale was disclosed in a filing with the SEC, which is available at this link.

Dime Community Bancshares Trading Up 1.1%

DCOM stock opened at $42.30 on Friday. The company has a market capitalization of $1.87 billion, a PE ratio of 17.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares, Inc. has a one year low of $25.63 and a one year high of $43.38. The company’s 50 day moving average price is $40.28 and its two-hundred day moving average price is $37.43.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The company had revenue of $135.35 million during the quarter, compared to analysts’ expectations of $131.16 million. During the same quarter in the prior year, the company earned $0.59 EPS. As a group, analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Friday, October 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 32.47%.

Analyst Ratings Changes

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

Key Dime Community Bancshares News

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

• 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-focused investor interest, although it applies to preferred rather than common shares. Preferred stock dividend announcement
• Positive Sentiment: Recent quarterly results provide a fundamental tailwind: DCOM reported earnings of $0.91 per share versus the $0.86 consensus estimate, while revenue of $135.35 million exceeded expectations. Earnings also increased from $0.59 per share a year earlier.
• Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler, Keefe, Bruyette & Woods, and DA Davidson raised or established price targets ranging from $47 to $50. The consensus rating is “Moderate Buy,” with an average target of $45.50.
• Neutral Sentiment: DCOM’s common stock remains above its 50-day and 200-day moving averages and close to its 52-week high, reflecting strong momentum but leaving the shares vulnerable to profit-taking.
• Negative Sentiment: Basswood Capital Management, a director-level holder, sold an additional 2,631 shares for approximately $111,500 on October 29, following sales of 5,160 shares on October 28 and 23,538 shares on October 27. These transactions left Basswood with only about 5,133 shares.
• Negative Sentiment: The latest activity adds to Basswood’s large disposals of 90,000 shares on October 23 and 16,159 shares on October 26. The sharp reduction in a major holder’s position may weigh on sentiment and signal profit-taking after the stock’s rally. SEC insider transaction filing
• Negative Sentiment: EVP Judy Wu also sold 887 shares, while CTO Michael Fegan and Director Joseph Perry previously reported sales. The cluster of insider transactions is the primary near-term negative catalyst, despite the company’s solid earnings and dividend profile.

Institutional Trading of Dime Community Bancshares

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Dime Community Bancshares in the second quarter worth approximately $251,937,000. Basswood Capital Management L.L.C. purchased a new position in shares of Dime Community Bancshares in the second quarter worth $79,106,000. The Manufacturers Life Insurance Company bought a new stake in Dime Community Bancshares during the 2nd quarter valued at $18,911,000. Bank of New York Mellon Corp bought a new stake in Dime Community Bancshares during the 2nd quarter valued at $14,342,000. Finally, Bank of America Corp DE purchased a new stake in Dime Community Bancshares during the 2nd quarter valued at $9,631,000. 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, 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.