Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L Sells 20,000 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOMGet Rating) Director Basswood Capital Management, L sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $31.09, for a total value of $621,800.00. Following the completion of the sale, the director now directly owns 2,051,798 shares of the company’s stock, valued at approximately $63,790,399.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Basswood Capital Management, L also recently made the following trade(s):

  • On Friday, June 3rd, Basswood Capital Management, L sold 45,094 shares of Dime Community Bancshares stock. The stock was sold at an average price of $31.44, for a total value of $1,417,755.36.
  • On Wednesday, May 18th, Basswood Capital Management, L sold 25,000 shares of Dime Community Bancshares stock. The stock was sold at an average price of $29.25, for a total value of $731,250.00.
  • On Monday, May 16th, Basswood Capital Management, L sold 23,746 shares of Dime Community Bancshares stock. The stock was sold at an average price of $29.40, for a total value of $698,132.40.
  • On Wednesday, May 11th, Basswood Capital Management, L sold 47,920 shares of Dime Community Bancshares stock. The stock was sold at an average price of $31.07, for a total value of $1,488,874.40.

Shares of DCOM stock opened at $31.24 on Wednesday. The stock has a 50 day moving average of $32.64 and a 200 day moving average of $34.05. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.23 billion, a P/E ratio of 8.38 and a beta of 1.06. Dime Community Bancshares, Inc. has a twelve month low of $28.36 and a twelve month high of $38.35.

Dime Community Bancshares (NASDAQ:DCOMGet Rating) last announced its quarterly earnings results on Friday, April 29th. The savings and loans company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.85 by ($0.03). The company had revenue of $96.31 million for the quarter, compared to analysts’ expectations of $100.15 million. Dime Community Bancshares had a net margin of 35.58% and a return on equity of 14.40%. During the same quarter in the prior year, the business posted $0.94 earnings per share. On average, research analysts predict that Dime Community Bancshares, Inc. will post 3.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 25th. Investors of record on Monday, April 18th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.07%. The ex-dividend date was Thursday, April 14th. Dime Community Bancshares’s dividend payout ratio is currently 25.74%.

A number of equities research analysts recently commented on DCOM shares. Zacks Investment Research downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, May 31st. Stephens downgraded Dime Community Bancshares from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $36.00 to $34.50 in a report on Monday, May 16th. StockNews.com started coverage on Dime Community Bancshares in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Piper Sandler decreased their target price on Dime Community Bancshares from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 3rd.

A number of hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. purchased a new stake in shares of Dime Community Bancshares in the first quarter valued at approximately $8,237,000. LSV Asset Management increased its position in shares of Dime Community Bancshares by 59.5% in the first quarter. LSV Asset Management now owns 363,540 shares of the savings and loans company’s stock valued at $12,568,000 after buying an additional 135,614 shares in the last quarter. BlackRock Inc. increased its position in shares of Dime Community Bancshares by 2.2% in the fourth quarter. BlackRock Inc. now owns 5,511,788 shares of the savings and loans company’s stock valued at $193,793,000 after buying an additional 119,277 shares in the last quarter. Phocas Financial Corp. increased its position in shares of Dime Community Bancshares by 99.4% in the fourth quarter. Phocas Financial Corp. now owns 191,548 shares of the savings and loans company’s stock valued at $6,735,000 after buying an additional 95,487 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Dime Community Bancshares by 177.6% in the third quarter. Goldman Sachs Group Inc. now owns 142,369 shares of the savings and loans company’s stock valued at $4,650,000 after buying an additional 91,087 shares in the last quarter. Institutional investors own 72.30% of the company’s stock.

About Dime Community Bancshares (Get Rating)

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.

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