Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Buys $928,000.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L bought 29,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were acquired at an average cost of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the acquisition, the director now directly owns 1,044,221 shares of the company’s stock, valued at $33,415,072. This trade represents a 2.86 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $33.70 on Friday. Dime Community Bancshares, Inc. has a 52-week low of $17.29 and a 52-week high of $35.21. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $29.47 and a 200 day moving average price of $24.12. The firm has a market capitalization of $1.32 billion, a PE ratio of 22.47 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. The business had revenue of $171.87 million for the quarter, compared to the consensus estimate of $86.65 million. During the same quarter last year, the business posted $0.56 EPS. On average, sell-side analysts anticipate that Dime Community Bancshares, Inc. will post 1.48 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 Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DCOM shares. Raymond James increased their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Piper Sandler lowered shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods increased their target price on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.50.

Institutional Trading of Dime Community Bancshares

Hedge funds have recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Dime Community Bancshares during the second quarter valued at about $56,000. GAMMA Investing LLC lifted its position in shares of Dime Community Bancshares by 30.4% in the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after purchasing an additional 685 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Dime Community Bancshares by 496.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after purchasing an additional 4,000 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Dime Community Bancshares in the second quarter worth approximately $101,000. Finally, EMC Capital Management lifted its position in shares of Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after purchasing an additional 2,924 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Company Profile

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.