Key Points
- Basswood Capital Management sold 2,631 Dime Community Bancshares shares for approximately $111,500, reducing its ownership by 33.89% to 5,133 shares. The sale followed several larger disposals in October.
- Dime Community Bancshares reported quarterly EPS of $0.91, beating the $0.86 consensus estimate, while revenue of $135.35 million also exceeded expectations.
- Analyst sentiment remains favorable, with a “Moderate Buy” consensus rating and an average price target of $45.50. The company also pays a quarterly common-stock dividend of $0.25 per share, representing a 2.4% yield.
Dime Community Bancshares, Inc. (NASDAQ:DCOM - Get Free Report) Director Basswood Capital Management, L sold 2,631 shares of the company's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $42.38, for a total transaction of $111,501.78. Following the completion of the transaction, the director owned 5,133 shares of the company's stock, valued at $217,536.54. This trade represents a 33.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Basswood Capital Management, L also recently made the following trade(s):
- On Wednesday, October 28th, Basswood Capital Management, L sold 5,160 shares of Dime Community Bancshares stock. The shares were sold at an average price of $42.02, for a total transaction of $216,823.20.
- On Tuesday, October 27th, Basswood Capital Management, L sold 23,538 shares of Dime Community Bancshares stock. The stock was sold at an average price of $42.51, for a total transaction of $1,000,600.38.
- On Monday, October 26th, Basswood Capital Management, L sold 16,159 shares of Dime Community Bancshares stock. The stock was sold at an average price of $43.05, for a total transaction of $695,644.95.
- 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 transaction of $3,841,200.00.
- On Thursday, August 13th, Basswood Capital Management, L sold 7,170 shares of Dime Community Bancshares stock. The stock was sold at an average price of $41.40, for a total transaction 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 transaction 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.
Dime Community Bancshares Stock Up 1.1%
Shares of NASDAQ DCOM opened at $42.30 on Friday. Dime Community Bancshares, Inc. has a 1 year low of $25.63 and a 1 year high of $43.38. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 17.92 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. The stock's 50-day simple moving average is $40.28 and its 200-day simple moving average is $37.43.
Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last issued 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. The firm had revenue of $135.35 million during the quarter, compared to the consensus estimate of $131.16 million. Dime Community Bancshares had a return on equity of 9.12% and a net margin of 15.15%. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, equities analysts anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.
Dime Community Bancshares Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 16th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, October 16th. This represents a $1.00 annualized dividend and a yield of 2.4%. Dime Community Bancshares's payout ratio is currently 32.47%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. grew its position in shares of Dime Community Bancshares by 2.5% in the 2nd quarter. Benjamin Edwards Inc. now owns 17,519 shares of the savings and loans company's stock worth $712,000 after acquiring an additional 423 shares in the last quarter. Illinois Municipal Retirement Fund raised 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 valued at $718,000 after acquiring an additional 683 shares in the last quarter. Nykredit A S acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at approximately $35,000. Royal Bank of Canada lifted its stake in Dime Community Bancshares by 11.7% during the first quarter. Royal Bank of Canada now owns 9,311 shares of the savings and loans company's stock worth $315,000 after purchasing an additional 979 shares during the last quarter. Finally, Kestra Advisory Services LLC lifted its stake in Dime Community Bancshares by 3.3% during the first quarter. Kestra Advisory Services LLC now owns 40,059 shares of the savings and loans company's stock worth $1,355,000 after purchasing an additional 1,296 shares during the last quarter. Institutional investors and hedge funds own 75.27% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed 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 lifted 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 note on Wednesday, October 21st. Four equities research analysts have rated the stock with 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 a consensus price target of $45.50.
Get Our Latest Analysis on Dime Community Bancshares
Dime Community Bancshares News Roundup
Here are the key news stories impacting Dime Community Bancshares this week:
- Positive Sentiment: The company declared a quarterly cash dividend of $0.34375 per share on its 5.50% Series A preferred stock, payable November 16 to shareholders of record November 9. The announcement supports income-focused investor interest, although it applies to preferred rather than common shares. Preferred stock dividend announcement
- Positive Sentiment: Recent quarterly results provide a fundamental tailwind: DCOM reported earnings of $0.91 per share versus the $0.86 consensus estimate, while revenue of $135.35 million exceeded expectations. Earnings also increased from $0.59 per share a year earlier.
- Positive Sentiment: Analyst sentiment remains favorable. Piper Sandler, Keefe, Bruyette & Woods, and DA Davidson raised or established price targets ranging from $47 to $50. The consensus rating is “Moderate Buy,” with an average target of $45.50.
- Neutral Sentiment: DCOM’s common stock remains above its 50-day and 200-day moving averages and close to its 52-week high, reflecting strong momentum but leaving the shares vulnerable to profit-taking.
- Negative Sentiment: Basswood Capital Management, a director-level holder, sold an additional 2,631 shares for approximately $111,500 on October 29, following sales of 5,160 shares on October 28 and 23,538 shares on October 27. These transactions left Basswood with only about 5,133 shares.
- Negative Sentiment: The latest activity adds to Basswood’s large disposals of 90,000 shares on October 23 and 16,159 shares on October 26. The sharp reduction in a major holder’s position may weigh on sentiment and signal profit-taking after the stock’s rally. SEC insider transaction filing
- Negative Sentiment: EVP Judy Wu also sold 887 shares, while CTO Michael Fegan and Director Joseph Perry previously reported sales. The cluster of insider transactions is the primary near-term negative catalyst, despite the company’s solid earnings and dividend profile.
Dime Community Bancshares Company Profile
(
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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