Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) Director Basswood Capital Management, L sold 29,732 shares of Dime Community Bancshares stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $42.72, for a total transaction of $1,270,151.04. Following the sale, the director directly owned 1,531 shares in the company, valued at approximately $65,404.32. This trade represents a 95.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Basswood Capital Management, L also recently made the following trade(s):
- On Monday, November 2nd, Basswood Capital Management, L sold 34,333 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.72, for a total transaction of $1,466,705.76.
- 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 transaction 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 transaction of $216,823.20.
- 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 shares were 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 shares were 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 stock was 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 stock was sold at an average price of $40.59, for a total value of $352,077.66.
Dime Community Bancshares Price Performance
Shares of Dime Community Bancshares stock traded up $1.55 on Wednesday, hitting $43.77. 382,615 shares of the company were exchanged, compared to its average volume of 319,955. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $40.39 and a 200 day moving average price of $37.61. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 18.55 and a beta of 1.01. Dime Community Bancshares, Inc. has a 1-year low of $25.63 and a 1-year high of $44.23.
Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last issued its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. During the same period last year, the company earned $0.59 EPS. As a group, sell-side analysts predict that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.
Dime Community Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 16th were issued a $0.25 dividend. 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 is currently 32.47%.
Analyst Upgrades and Downgrades
DCOM has been the topic of several recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Keefe, Bruyette & Woods raised their price target on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an “outperform” rating in a report on Wednesday, October 21st. Finally, DA Davidson set a $50.00 price target on shares of Dime Community Bancshares in a research report on Thursday, October 22nd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dime Community Bancshares presently has an average rating of “Moderate Buy” and an average price target of $45.50.
Read Our Latest Report on Dime Community Bancshares
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Dime Community Bancshares during the second quarter worth about $251,937,000. Dimensional Fund Advisors LP raised its stake in shares of 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 valued at $79,602,000 after acquiring an additional 23,035 shares during the period. Basswood Capital Management L.L.C. purchased a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at approximately $79,106,000. The Manufacturers Life Insurance Company acquired a new position in shares of Dime Community Bancshares in the 2nd quarter worth approximately $18,911,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Dime Community Bancshares in the 2nd quarter worth approximately $14,342,000. Institutional investors and hedge funds own 75.27% of the company’s stock.
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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