Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) 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 owned 3,882 shares in the company, valued at $164,325.06. The trade was a 18.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Dime Community Bancshares Price Performance
DCOM stock traded down $0.87 during mid-day trading on Wednesday, hitting $41.65. 204,730 shares of the stock were exchanged, compared to its average volume of 317,940. The business has a fifty day moving average price of $40.21 and a 200 day moving average price of $37.31. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month 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. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 17.61 and a beta of 1.01.
Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last announced its quarterly earnings data on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The firm had revenue of $135.35 million for the quarter, compared to analyst estimates of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same period in the prior year, the company earned $0.59 EPS. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.
Dime Community Bancshares Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 16th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares’s dividend payout ratio is currently 32.47%.
Institutional Investors Weigh In On Dime Community Bancshares
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Dime Community Bancshares during the 2nd quarter valued at about $251,937,000. Dimensional Fund Advisors LP increased its stake in Dime Community Bancshares by 1.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,786 shares of the savings and loans company’s stock worth $79,602,000 after purchasing an additional 23,035 shares during the period. Basswood Capital Management L.L.C. purchased a new position in Dime Community Bancshares in the 2nd quarter worth approximately $79,106,000. The Manufacturers Life Insurance Company bought a new stake in Dime Community Bancshares in the second quarter valued at approximately $18,911,000. Finally, Bank of New York Mellon Corp bought a new stake in Dime Community Bancshares in the second quarter valued at approximately $14,342,000. Institutional investors own 75.27% of the company’s stock.
Analyst Ratings Changes
Several research firms have commented on DCOM. Keefe, Bruyette & Woods lifted their price target on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note 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, Piper Sandler reaffirmed an “overweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Dime Community Bancshares in a research note on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $45.50.
View Our Latest Research Report on DCOM
Dime Community Bancshares Company Profile
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.
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