Key Points
- Dime Community Bancshares director Raymond Nielsen sold 1,650 shares on May 11 at an average price of $37.09, totaling about $61,198.50. After the sale, he still held 35,607 shares valued at roughly $1.32 million.
- The stock was trading near its 12-month high, opening at $36.71, with a market cap of $1.62 billion and a dividend yield of 2.7%. The company’s quarterly dividend of $0.25 per share was recently paid on April 24.
- Analysts remain generally positive on DCOM, with a consensus rating of Moderate Buy and an average price target of $39.75. Several firms recently raised their targets, including Keefe, Bruyette & Woods and DA Davidson, both to $43.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Raymond Nielsen sold 1,650 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $37.09, for a total value of $61,198.50. Following the completion of the transaction, the director owned 35,607 shares of the company's stock, valued at $1,320,663.63. The trade was a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Dime Community Bancshares Price Performance
DCOM opened at $36.71 on Tuesday. The stock has a 50-day moving average price of $34.42 and a 200-day moving average price of $31.95. Dime Community Bancshares, Inc. has a 12-month low of $24.57 and a 12-month high of $37.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.62 billion, a P/E ratio of 15.55 and a beta of 1.00.
Dime Community Bancshares Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 17th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date was Friday, April 17th. Dime Community Bancshares's dividend payout ratio is presently 37.59%.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on DCOM shares. Keefe, Bruyette & Woods upped their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, April 24th. Piper Sandler started coverage on Dime Community Bancshares in a report on Monday, March 16th. They issued an "overweight" rating and a $37.00 price objective for the company. DA Davidson upped their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Weiss Ratings upgraded Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Finally, Stephens upped their price objective on Dime Community Bancshares from $33.00 to $36.00 and gave the stock an "equal weight" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.75.
View Our Latest Stock Report on Dime Community Bancshares
Institutional Investors Weigh In On Dime Community Bancshares
Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in Dime Community Bancshares by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 4,263,230 shares of the savings and loans company's stock valued at $128,281,000 after acquiring an additional 857,001 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Dime Community Bancshares by 1.0% during 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. State Street Corp boosted its holdings in Dime Community Bancshares by 0.5% during the 4th quarter. State Street Corp now owns 1,824,019 shares of the savings and loans company's stock valued at $54,885,000 after acquiring an additional 8,936 shares during the period. Verition Fund Management LLC boosted its holdings in Dime Community Bancshares by 19.8% during the 4th quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company's stock valued at $18,027,000 after acquiring an additional 99,011 shares during the period. Finally, Penn Capital Management Company LLC raised its position in Dime Community Bancshares by 20.3% during the 3rd quarter. Penn Capital Management Company LLC now owns 584,810 shares of the savings and loans company's stock valued at $17,487,000 after purchasing an additional 98,736 shares during the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
Dime Community Bancshares Company Profile
(
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
