Key Points
- Basswood Capital Management sold 32,335 Dime Community Bancshares shares at an average price of $40.96, generating approximately $1.32 million. The sale reduced its position by 84.01%, leaving it with 6,153 shares.
- The director has made several additional DCOM sales in recent weeks, including 7,170 shares on August 13 and 8,674 shares on August 11, indicating continued insider selling.
- Dime Community Bancshares was trading near its 52-week high at $41.18 and pays a quarterly dividend of $0.25, while analysts maintain a “Moderate Buy” consensus with an average price target of $39.75.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $41.40, for a total value of $296,838.00. Following the sale, the director directly owned 6,099 shares of the company's stock, valued at $252,498.60. This trade represents a 54.04% decrease in their ownership of the stock. The sale 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 Wednesday, August 12th, Basswood Capital Management, L sold 32,335 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.96, for a total value of $1,324,441.60.
- On Tuesday, August 11th, Basswood Capital Management, L sold 8,674 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.59, for a total value of $352,077.66.
- On Monday, August 3rd, Basswood Capital Management, L sold 20,687 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.17, for a total value of $851,683.79.
- On Friday, July 31st, Basswood Capital Management, L sold 53,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.76, for a total value of $2,160,280.00.
- On Thursday, July 30th, Basswood Capital Management, L sold 10,929 shares of Dime Community Bancshares stock. The shares were sold at an average price of $40.79, for a total value of $445,793.91.
- On Thursday, June 18th, Basswood Capital Management, L sold 32,751 shares of Dime Community Bancshares stock. The shares were sold at an average price of $39.02, for a total value of $1,277,944.02.
- 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 stock was 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 transaction of $575,730.71.
Dime Community Bancshares Stock Up 0.7%
Shares of NASDAQ:DCOM opened at $41.18 on Friday. The firm has a 50 day simple moving average of $40.01 and a 200-day simple moving average of $36.72. Dime Community Bancshares, Inc. has a twelve month low of $25.63 and a twelve month high of $41.97. 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 company has a market capitalization of $1.82 billion, a PE ratio of 17.45 and a beta of 0.99.
Dime Community Bancshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 24th. Investors of record on Friday, July 17th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.4%. Dime Community Bancshares's payout ratio is 36.10%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Dime Community Bancshares by 15.7% during the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company's stock worth $645,000 after buying an additional 3,135 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Dime Community Bancshares by 132.3% in the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company's stock valued at $4,726,000 after buying an additional 96,523 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Dime Community Bancshares by 17.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company's stock valued at $659,000 after acquiring an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Dime Community Bancshares by 5.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company's stock worth $9,060,000 after purchasing an additional 18,195 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Dime Community Bancshares by 5.4% in the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company's stock worth $2,289,000 after acquiring an additional 4,231 shares during the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
DCOM has been the subject of several research reports. DA Davidson boosted their target price on Dime Community Bancshares from $39.00 to $43.00 and gave the company a "buy" rating in a report on Monday, April 27th. Keefe, Bruyette & Woods raised their price target 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.75.
Check Out Our Latest Stock Report on Dime Community Bancshares
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.
Featured Articles
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].
