Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 34,333 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 34,333 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $42.72, for a total value of $1,466,705.76. Following the transaction, the director directly owned 1,538 shares in the company, valued at approximately $65,703.36. This represents a 95.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Tuesday, November 3rd, Basswood Capital Management, L sold 29,732 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.72, for a total value of $1,270,151.04.
• On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.38, for a total value of $111,501.78.
• On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.02, for a total value of $216,823.20.
• On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.51, for a total value of $1,000,600.38.
• On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The shares were sold at an average price of $43.05, for a total value of $695,644.95.
• On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.68, for a total value of $3,841,200.00.
• On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.40, for a total value of $296,838.00.
• On Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.96, for a total value of $1,324,441.60.
• On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.59, for a total transaction of $352,077.66.

Dime Community Bancshares Trading Up 3.7%

DCOM stock traded up $1.55 during trading on Wednesday, hitting $43.77. The company had a trading volume of 382,615 shares, compared to its average volume of 319,955. The firm has a market capitalization of $1.93 billion, a P/E ratio of 18.55 and a beta of 1.01. Dime Community Bancshares, Inc. has a 52-week low of $25.63 and a 52-week high of $44.23. The company has a 50 day simple moving average of $40.39 and a 200-day simple moving average of $37.61. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57.

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 for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $135.35 million during 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 quarter last year, the business posted $0.59 EPS. As a group, research analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.3%. Dime Community Bancshares’s dividend payout ratio (DPR) is 32.47%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Dime Community Bancshares

Several institutional investors have recently made changes to their positions in DCOM. Kestra Advisory Services LLC raised its holdings in shares of Dime Community Bancshares by 3.2% in the third quarter. Kestra Advisory Services LLC now owns 40,075 shares of the savings and loans company’s stock valued at $1,580,000 after acquiring an additional 1,238 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new stake in Dime Community Bancshares in the third quarter worth about $201,000. Counterpoint Mutual Funds LLC bought a new position in Dime Community Bancshares during the 3rd quarter worth about $657,000. USA Financial Formulas bought a new position in Dime Community Bancshares during the 3rd quarter worth about $73,000. Finally, Tidal Investments LLC bought a new position in Dime Community Bancshares during the 2nd quarter worth about $302,000. 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.