Insider Selling: Dime Community Bancshares (NASDAQ:DCOM) EVP Sells 887 Shares of Company Stock

Key Points

  • EVP Judy Wu sold 887 Dime Community Bancshares shares at an average price of $42.33, reducing her direct holdings by 18.6% to 3,882 shares.
  • Dime Community Bancshares reported stronger-than-expected quarterly results, with earnings of $0.91 per share and revenue of $135.35 million, while maintaining its $0.25 quarterly dividend.
  • Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $45.50, although several insider and institutional sales could weigh on investor sentiment.

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) EVP Judy Wu sold 887 shares of the business's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $42.33, for a total transaction of $37,546.71. Following the sale, the executive vice president directly owned 3,882 shares in the company, valued at $164,325.06. The trade was a 18.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Dime Community Bancshares Price Performance

Shares of DCOM opened at $41.87 on Thursday. The stock has a market cap of $1.85 billion, a PE ratio of 17.74 and a beta of 1.01. 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 fifty-two week low of $25.63 and a fifty-two week high of $43.38. The firm's 50-day simple moving average is $40.23 and its two-hundred day simple moving average is $37.37.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its earnings results on Tuesday, October 20th. The savings and loans company reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.86 by $0.05. Dime Community Bancshares had a net margin of 15.15% and a return on equity of 9.12%. The business had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. During the same quarter last year, the firm earned $0.59 earnings per share. Analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend




The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 16th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, October 16th. Dime Community Bancshares's payout ratio is currently 32.47%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DCOM. Keefe, Bruyette & Woods raised their price objective on Dime Community Bancshares from $47.00 to $49.00 and gave the company an "outperform" rating in a research report on Wednesday, October 21st. DA Davidson set a $50.00 target price on Dime Community Bancshares in a report on Thursday, October 22nd. Finally, Piper Sandler reissued an "overweight" rating and issued a $47.00 target price (up from $45.00) on shares of Dime Community Bancshares in a report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Dime Community Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $45.50.

Read Our Latest Stock Report on Dime Community Bancshares

Institutional Trading of Dime Community Bancshares

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Dime Community Bancshares in the 2nd quarter worth approximately $251,937,000. Basswood Capital Management L.L.C. purchased a new stake in Dime Community Bancshares during the 2nd quarter valued at $79,106,000. The Manufacturers Life Insurance Company bought a new position in shares of Dime Community Bancshares during the 2nd quarter valued at $18,911,000. Bank of New York Mellon Corp bought a new position in shares of Dime Community Bancshares during the 2nd quarter valued at $14,342,000. Finally, Bank of America Corp DE purchased a new position in shares of Dime Community Bancshares in the 2nd quarter worth $9,631,000. 75.27% of the stock is currently owned by institutional investors.

Key Headlines Impacting Dime Community Bancshares

Here are the key news stories impacting Dime Community Bancshares this week:

  • Positive Sentiment: Dime Community Bancshares reported quarterly earnings of $0.91 per share, exceeding the $0.86 analyst consensus, while revenue of $135.35 million also surpassed expectations. Earnings increased from $0.59 per share in the year-earlier quarter.
  • Positive Sentiment: Analysts remain constructive: Piper Sandler raised its price target to $47, Keefe, Bruyette & Woods increased its target to $49, and DA Davidson set a $50 target. The consensus rating is “Moderate Buy,” with an average target of $45.50.
  • Positive Sentiment: The company’s quarterly dividend remains $0.25 per share, equivalent to a $1.00 annualized payout and an approximately 2.4% yield.
  • Neutral Sentiment: DCOM is trading near its 52-week high and above its 50-day and 200-day moving averages, indicating strong recent momentum but also potentially increasing profit-taking risk.
  • Negative Sentiment: Basswood Capital Management sold 90,000 shares for approximately $3.84 million on October 23 and another 16,159 shares for approximately $695,645 on October 26. The transactions reduced its reported position by roughly 94% and 75%, respectively, and represent the most significant near-term insider-selling signal. SEC insider transaction filing
  • Negative Sentiment: Other reported sales included 887 shares by EVP Judy Wu, 2,355 shares by CTO Michael Fegan, and 3,000 shares by Director Joseph Perry. While individual insider sales do not necessarily signal deteriorating fundamentals, the cluster of transactions may weigh on investor sentiment.

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.

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