Dime Community Bancshares (NASDAQ:DCOM) Stock: Insider Basswood Capital Management, L Sells 5,160 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) Director Basswood Capital Management, L sold 5,160 shares of the business’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $42.02, for a total value of $216,823.20. Following the completion of the sale, the director owned 5,148 shares of the company’s stock, valued at $216,318.96. The trade was a 50.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Thursday, October 29th, Basswood Capital Management, L sold 2,631 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.38, for a total transaction of $111,501.78.
  • On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.51, for a total transaction of $1,000,600.38.
  • On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total transaction of $695,644.95.
  • On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.68, for a total transaction 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 transaction of $296,838.00.
  • 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 value 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 value 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 shares were sold at an average price of $40.76, for a total value of $2,160,280.00.

Dime Community Bancshares Price Performance

DCOM opened at $41.73 on Friday. The stock’s 50 day simple moving average is $40.31 and its 200 day simple moving average is $37.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $43.38. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 17.68 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 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. The firm had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. During the same quarter in the previous year, the company posted $0.59 earnings per share. As a group, analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were issued a dividend of $0.25 per share. 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 is currently 32.47%.

Analyst Ratings Changes

DCOM has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $47.00 price target (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Keefe, Bruyette & Woods upped their price objective on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Finally, DA Davidson set a $50.00 target price on shares of Dime Community Bancshares in a report on Thursday, October 22nd. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $45.50.

Check Out Our Latest Stock Report on Dime Community Bancshares

Institutional Trading of Dime Community Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Dime Community Bancshares during the 3rd quarter worth approximately $201,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Dime Community Bancshares during the third quarter valued at approximately $657,000. USA Financial Formulas bought a new stake in shares of Dime Community Bancshares during the third quarter valued at approximately $73,000. Tidal Investments LLC bought a new stake in shares of Dime Community Bancshares during the second quarter valued at approximately $302,000. Finally, Squarepoint Ops LLC grew its stake in Dime Community Bancshares by 2.7% in the second quarter. Squarepoint Ops LLC now owns 65,024 shares of the savings and loans company’s stock worth $2,643,000 after purchasing an additional 1,686 shares during the period. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Dime Community Bancshares

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

  • Positive Sentiment: DCOM recently reported quarterly earnings of $0.91 per share, above the $0.86 analyst consensus, while revenue of $135.35 million also exceeded expectations. Earnings improved from $0.59 per share in the year-earlier period.
  • Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler raised its target to $47, Keefe, Bruyette & Woods lifted its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average price target of $45.50.
  • 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-oriented investor interest, although it applies to preferred shares rather than common stock. Preferred stock dividend announcement
  • Neutral Sentiment: DCOM remains above its 50-day and 200-day moving averages and close to its 52-week high. This signals strong momentum but may also increase the risk of profit-taking.
  • Negative Sentiment: Director Basswood Capital Management sold another 2,631 shares for approximately $111,500 on October 29, reducing its remaining position to 5,133 shares. This followed sales of 5,160 shares on October 28 and 23,538 shares on October 27.
  • Negative Sentiment: The broader Basswood disposal includes 90,000 shares sold October 23 and 16,159 shares sold October 26, along with additional August sales. The substantial reduction in a major holder’s position may signal profit-taking and is weighing on investor sentiment. Basswood Capital insider sales
  • Negative Sentiment: EVP Judy Wu separately sold 887 shares for approximately $37,547, leaving her with 3,882 shares. While individual insider sales do not necessarily indicate weakening fundamentals, the cluster of transactions creates a notable near-term overhang.

Dime Community Bancshares Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Dime Community Bancshares (NASDAQ:DCOM)

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