Key Points
- Basswood Capital Management, L sold a total of 27,839 DCOM shares (20,339 on Jan 30 at $33.96 and 7,500 on Feb 3 at $34.83) for about $952K, trimming its position by 1.97% to 1,013,819 shares valued at roughly $34.43M.
- Dime beat Q4 estimates, reporting $0.79 EPS vs. $0.70 expected and $123.85M in revenue, and pays a $0.25 quarterly dividend (annualized yield ~2.8%); analysts hold a consensus rating of "Hold" with a $38.33 average price target after several recent upgrades.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 7,500 shares of Dime Community Bancshares stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $34.83, for a total value of $261,225.00. Following the sale, the director owned 1,006,319 shares in the company, valued at $35,050,090.77. This represents a 0.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Basswood Capital Management, L also recently made the following trade(s):
- On Friday, January 30th, Basswood Capital Management, L sold 20,339 shares of Dime Community Bancshares stock. The shares were sold at an average price of $33.96, for a total value of $690,712.44.
Dime Community Bancshares Stock Performance
Dime Community Bancshares stock opened at $35.44 on Wednesday. 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 12 month low of $23.25 and a 12 month high of $36.47. The company has a fifty day moving average price of $31.04 and a two-hundred day moving average price of $29.60. The company has a market cap of $1.56 billion, a PE ratio of 15.02 and a beta of 1.11.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results on Wednesday, January 21st. The savings and loans company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The business had revenue of $123.85 million during the quarter, compared to analyst estimates of $118.14 million. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. During the same period in the previous year, the business posted $0.42 EPS. Research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current year.
Dime Community Bancshares Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 23rd. Stockholders of record on Friday, January 16th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.00 annualized dividend and a dividend yield of 2.8%. Dime Community Bancshares's payout ratio is 42.37%.
Analysts Set New Price Targets
A number of research firms have issued reports on DCOM. Wall Street Zen raised shares of Dime Community Bancshares from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods boosted their price objective on Dime Community Bancshares from $34.00 to $40.00 and gave the stock an "outperform" rating in a research report on Thursday, January 22nd. DA Davidson raised their target price on Dime Community Bancshares from $37.00 to $39.00 and gave the company a "buy" rating in a research report on Thursday, January 22nd. Stephens boosted their price target on shares of Dime Community Bancshares from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Dime Community Bancshares in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Dime Community Bancshares has an average rating of "Hold" and a consensus price target of $38.33.
Read Our Latest Research Report on DCOM
Institutional Trading of Dime Community Bancshares
Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC increased its position in Dime Community Bancshares by 742.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,003 shares of the savings and loans company's stock worth $30,000 after purchasing an additional 884 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Dime Community Bancshares in the 2nd quarter valued at approximately $97,000. GAMMA Investing LLC increased its holdings in Dime Community Bancshares by 15.1% in the third quarter. GAMMA Investing LLC now owns 4,448 shares of the savings and loans company's stock worth $133,000 after buying an additional 584 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Dime Community Bancshares by 326.4% during the second quarter. Tower Research Capital LLC TRC now owns 5,808 shares of the savings and loans company's stock valued at $156,000 after acquiring an additional 4,446 shares in the last quarter. Finally, iSAM Funds UK Ltd acquired a new stake in Dime Community Bancshares in the third quarter valued at approximately $169,000. Institutional investors and hedge funds own 75.27% of the company's stock.
About Dime Community Bancshares
(
Get Free Report)
Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.
The company's core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.
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