Key Points
- Director Basswood Capital Management sold 14,019 shares of Dime Community Bancshares on June 16 at an average price of $39.29, worth about $550,807. The sale cut its direct holdings by 66.57% to 7,040 shares.
- It was part of a string of recent insider sales, including 15,870 shares sold on June 12 and 14,513 shares sold on June 15, all at prices near the high-$39 to low-$40 range.
- The stock has been trading near its 52-week high, with shares last opening at $39.41, while analysts currently rate DCOM a Moderate Buy with a consensus target price of $39.75.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 14,019 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $39.29, for a total value of $550,806.51. Following the transaction, the director directly owned 7,040 shares of the company's stock, valued at approximately $276,601.60. The trade was a 66.57% decrease in their ownership of the stock. The sale 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 Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.08, for a total value of $636,069.60.
- On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.67, for a total value of $575,730.71.
Dime Community Bancshares Stock Performance
Shares of NASDAQ DCOM opened at $39.41 on Wednesday. The stock has a fifty day moving average price of $36.88 and a two-hundred day moving average price of $33.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $1.74 billion, a P/E ratio of 16.70 and a beta of 1.00. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $40.76.
Dime Community Bancshares Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, April 24th. Shareholders of record on Friday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, April 17th. Dime Community Bancshares's dividend payout ratio (DPR) is presently 37.59%.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. DA Davidson raised their price objective on Dime Community Bancshares from $39.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, April 27th. Wall Street Zen lowered Dime Community Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Piper Sandler assumed coverage on Dime Community Bancshares in a research note on Monday, March 16th. They set an "overweight" rating and a $37.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Dime Community Bancshares from $40.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Finally, Weiss Ratings raised Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.75.
Read Our Latest Stock Analysis on DCOM
Institutional Trading of Dime Community Bancshares
A number of hedge funds have recently modified their holdings of DCOM. Wellington Management Group LLP lifted its holdings in shares of Dime Community Bancshares by 25.2% in the fourth 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 purchasing an additional 857,001 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Dime Community Bancshares in the fourth quarter valued at $13,321,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Dime Community Bancshares by 97.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 432,464 shares of the savings and loans company's stock valued at $12,900,000 after purchasing an additional 212,934 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Dime Community Bancshares by 271.4% in the third quarter. Bank of America Corp DE now owns 266,005 shares of the savings and loans company's stock valued at $7,935,000 after purchasing an additional 194,383 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of Dime Community Bancshares by 19.8% in the fourth quarter. Verition Fund Management LLC now owns 599,103 shares of the savings and loans company's stock valued at $18,027,000 after purchasing an additional 99,011 shares in the last quarter. Hedge funds and other institutional investors own 75.27% of the company's stock.
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.
Read More
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].
