Basswood Capital Management, L Sells 9,815 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 9,815 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $31.20, for a total transaction of $306,228.00. Following the completion of the transaction, the director now owns 37,147 shares in the company, valued at approximately $1,158,986.40. This represents a 20.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, January 31st, Basswood Capital Management, L bought 1,043 shares of Dime Community Bancshares stock. The stock was purchased at an average cost of $31.23 per share, for a total transaction of $32,572.89.

Dime Community Bancshares Trading Up 0.6 %

NASDAQ:DCOM opened at $31.34 on Friday. The stock has a fifty day moving average price of $31.93 and a 200 day moving average price of $29.79. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $37.60. The firm has a market cap of $1.23 billion, a PE ratio of 53.12 and a beta of 1.05.

Dime Community Bancshares (NASDAQ:DCOM) last released its earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. Sell-side 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 company also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were issued a $0.25 dividend. The ex-dividend date was Friday, January 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.19%. Dime Community Bancshares’s payout ratio is 169.49%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DCOM. Keefe, Bruyette & Woods dropped their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $30.00 to $39.00 in a research report on Monday, November 18th. Finally, Piper Sandler raised shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $36.00 to $38.00 in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Dime Community Bancshares has a consensus rating of “Moderate Buy” and a consensus price target of $36.40.

Institutional Investors Weigh In On Dime Community Bancshares

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP purchased a new position in Dime Community Bancshares in the fourth quarter valued at $39,073,000. Penn Capital Management Company LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter worth about $10,068,000. Stieven Capital Advisors L.P. increased its holdings in shares of Dime Community Bancshares by 86.3% in the 4th quarter. Stieven Capital Advisors L.P. now owns 620,155 shares of the savings and loans company’s stock valued at $19,060,000 after acquiring an additional 287,195 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Dime Community Bancshares by 120.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock worth $13,851,000 after acquiring an additional 263,225 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Dime Community Bancshares by 10.3% during the 4th quarter. Vanguard Group Inc. now owns 2,739,614 shares of the savings and loans company’s stock worth $84,202,000 after acquiring an additional 256,466 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

About Dime Community Bancshares

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