Key Points
- Basswood Capital Management sold 16,159 Dime Community Bancshares shares at an average price of $43.05, receiving approximately $695,645. The sale reduced its direct holding by 75.27% to 5,310 shares.
- Dime Community Bancshares reported quarterly EPS of $0.91, exceeding the $0.86 analyst consensus, while revenue of $135.35 million also topped estimates.
- Analysts maintained a generally positive outlook, with four Buy ratings and two Holds; the stock had an average price target of $45.50 versus a reported share price of $42.51.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 16,159 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $43.05, for a total value of $695,644.95. Following the sale, the director directly owned 5,310 shares in the company, valued at $228,595.50. This represents a 75.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Basswood Capital Management, L also recently made the following trade(s):
- On Friday, October 23rd, Basswood Capital Management, L sold 90,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.68, for a total value of $3,841,200.00.
- On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The shares were sold at an average price of $41.40, for a total value of $296,838.00.
- 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 shares were 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 stock was sold at an average price of $40.79, for a total value of $445,793.91.
Dime Community Bancshares Stock Down 1.0%
Shares of NASDAQ DCOM opened at $42.51 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. Dime Community Bancshares, Inc. has a 52 week low of $25.63 and a 52 week high of $43.38. The stock has a market capitalization of $1.88 billion, a P/E ratio of 18.01 and a beta of 1.01. The stock's fifty day moving average is $40.21 and its 200 day moving average is $37.31.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last posted its quarterly earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. The business had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. Sell-side analysts forecast that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.
Dime Community Bancshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares's dividend payout ratio (DPR) is currently 32.47%.
Hedge Funds Weigh In On Dime Community Bancshares
Hedge funds and other institutional investors have recently modified their holdings of the business. Benjamin Edwards Inc. raised its holdings in shares of Dime Community Bancshares by 2.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 17,519 shares of the savings and loans company's stock worth $712,000 after buying an additional 423 shares in the last quarter. Illinois Municipal Retirement Fund lifted its position in shares of Dime Community Bancshares by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 21,219 shares of the savings and loans company's stock worth $718,000 after buying an additional 683 shares during the last quarter. Nykredit A S acquired a new stake in Dime Community Bancshares in the second quarter valued at about $35,000. Royal Bank of Canada boosted its stake in Dime Community Bancshares by 11.7% in the first quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company's stock valued at $315,000 after buying an additional 979 shares in the last quarter. Finally, Kestra Advisory Services LLC boosted its stake in Dime Community Bancshares by 3.3% in the first quarter. Kestra Advisory Services LLC now owns 40,059 shares of the savings and loans company's stock valued at $1,355,000 after buying an additional 1,296 shares in the last quarter. Institutional investors own 75.27% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on DCOM shares. Piper Sandler restated an "overweight" rating and issued a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a research report on Wednesday, October 21st. DA Davidson set a $50.00 price target on shares of Dime Community Bancshares in a research report on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Dime Community Bancshares from $47.00 to $49.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 21st. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $45.50.
Check Out Our Latest Research Report on DCOM
About Dime Community Bancshares
(
Get Free Report)
Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, a full-service commercial bank serving businesses, individuals and local communities in the New York metropolitan area. The company's primary markets include Long Island and New York City, with banking offices across Brooklyn, Queens, Manhattan, Nassau County and Suffolk County.
Dime Community Bank provides commercial and residential real estate lending, commercial and industrial loans, construction financing, residential mortgages and consumer loans.
Further Reading
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