Key Points
- Basswood Capital Management, L (a Dime director) bought 20,537 shares on Nov. 4 at an average price of $26.26 for a total of $539,301.62, raising its holding to 1,034,158 shares (a 2.03% increase); the trade was disclosed in an SEC Form 4.
- Dime reported a Q3 EPS miss ($0.61 vs. $0.67 expected) and revenue of $103.4M versus $112.75M expected.
- The company pays a $0.25 quarterly dividend (annualized $1.00) for a 3.8% yield
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L acquired 20,537 shares of the business's stock in a transaction dated Tuesday, November 4th. The stock was acquired at an average cost of $26.26 per share, with a total value of $539,301.62. Following the purchase, the director directly owned 1,034,158 shares in the company, valued at $27,156,989.08. This represents a 2.03% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Basswood Capital Management, L also recently made the following trade(s):
- On Tuesday, September 9th, Basswood Capital Management, L sold 9,000 shares of Dime Community Bancshares stock. The shares were sold at an average price of $30.33, for a total transaction of $272,970.00.
Dime Community Bancshares Stock Down 0.9%
DCOM opened at $26.39 on Friday. The company has a market cap of $1.16 billion, a P/E ratio of 23.15 and a beta of 1.15. The business's 50-day moving average price is $29.43 and its 200-day moving average price is $28.09. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. Dime Community Bancshares, Inc. has a 12 month low of $23.25 and a 12 month high of $37.60.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued its earnings results on Thursday, October 23rd. The savings and loans company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.06). The company had revenue of $103.40 million for the quarter, compared to analysts' expectations of $112.75 million. Dime Community Bancshares had a net margin of 8.72% and a return on equity of 7.81%. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, equities analysts expect that Dime Community Bancshares, Inc. will post 3.06 EPS for the current year.
Dime Community Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, October 24th. Investors of record on Friday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, October 17th. Dime Community Bancshares's dividend payout ratio is currently 87.72%.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Zacks Research cut shares of Dime Community Bancshares from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Dime Community Bancshares in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of Dime Community Bancshares from $37.00 to $34.00 and set an "outperform" rating on the stock in a report on Monday, October 27th. Finally, DA Davidson began coverage on shares of Dime Community Bancshares in a research report on Monday, October 27th. They issued a "buy" rating and a $36.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $35.13.
Check Out Our Latest Analysis on DCOM
Institutional Trading of Dime Community Bancshares
A number of hedge funds have recently made changes to their positions in the stock. Principal Financial Group Inc. increased its position in Dime Community Bancshares by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 195,530 shares of the savings and loans company's stock valued at $5,451,000 after buying an additional 5,266 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Dime Community Bancshares by 9.5% in the 1st quarter. New York State Common Retirement Fund now owns 303,469 shares of the savings and loans company's stock worth $8,461,000 after purchasing an additional 26,301 shares in the last quarter. Hughes Financial Services LLC purchased a new stake in Dime Community Bancshares during the 1st quarter valued at about $37,000. CWM LLC increased its stake in Dime Community Bancshares by 250.1% during the 1st quarter. CWM LLC now owns 6,035 shares of the savings and loans company's stock valued at $168,000 after purchasing an additional 4,311 shares in the last quarter. Finally, Readystate Asset Management LP purchased a new position in Dime Community Bancshares in the first quarter worth about $488,000. 75.27% of the stock is owned by institutional investors.
Dime Community Bancshares Company Profile
(
Get Free Report)
Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that engages in the provision of various commercial banking and financial services. The company accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. It also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; letters of credit; secured and unsecured commercial and consumer loans; lines of credit; home equity loans; and construction and land loans.
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