Key Points
- Basswood Capital Management sold 32,751 shares of Dime Community Bancshares on June 18 at an average price of $39.02, totaling about $1.28 million. After the sale, it held 6,785 shares, an 82.84% reduction in its position.
- The director also sold additional DCOM shares in the days leading up to that transaction, including 15,870 shares on June 12, 14,513 shares on June 15, and 14,019 shares on June 16.
- Despite the insider selling, Dime Community Bancshares stock was up 1.3% and analysts remain relatively bullish, with a consensus rating of Moderate Buy and an average price target of $39.75.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 32,751 shares of the company's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total transaction of $1,277,944.02. Following the sale, the director directly owned 6,785 shares of the company's stock, valued at approximately $264,750.70. This trade represents a 82.84% decrease in their position. The sale was disclosed in a document filed 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 transaction of $636,069.60.
- On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.29, for a total transaction of $550,806.51.
- On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total value of $575,730.71.
Dime Community Bancshares Stock Up 1.3%
NASDAQ DCOM opened at $39.68 on Wednesday. The business has a fifty day moving average price of $37.24 and a two-hundred day moving average price of $34.24. The stock has a market capitalization of $1.75 billion, a PE ratio of 16.81 and a beta of 1.00. Dime Community Bancshares, Inc. has a fifty-two week low of $25.63 and a fifty-two week high of $40.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.02 and a quick ratio of 1.02.
Hedge Funds Weigh In On Dime Community Bancshares
Several large investors have recently bought and sold shares of DCOM. Hilton Head Capital Partners LLC acquired a new stake in shares of Dime Community Bancshares during the fourth quarter valued at about $28,000. Larson Financial Group LLC grew its holdings in shares of Dime Community Bancshares by 742.9% during the third 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. Tower Research Capital LLC TRC increased its stake in shares of Dime Community Bancshares by 326.4% in 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 buying an additional 4,446 shares during the period. iSAM Funds UK Ltd acquired a new position in shares of Dime Community Bancshares in the third quarter valued at approximately $169,000. Finally, Maryland State Retirement & Pension System bought a new position in Dime Community Bancshares in the 1st quarter valued at approximately $202,000. 75.27% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
DCOM has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Dime Community Bancshares from $40.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, April 24th. DA Davidson raised their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Weiss Ratings raised shares of Dime Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Piper Sandler initiated coverage on shares of Dime Community Bancshares in a research report on Monday, March 16th. They set an "overweight" rating and a $37.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Dime Community Bancshares from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One investment 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's stock. Based on data from MarketBeat.com, Dime Community Bancshares has an average rating of "Moderate Buy" and a consensus target price of $39.75.
Check Out Our Latest Report on Dime Community Bancshares
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.
Further Reading
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