Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L Purchases 29,000 Shares

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L bought 29,000 shares of Dime Community Bancshares stock in a transaction dated Tuesday, November 12th. The stock was purchased at an average price of $32.00 per share, with a total value of $928,000.00. Following the purchase, the director now directly owns 1,044,221 shares in the company, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Dime Community Bancshares Trading Down 0.4 %

Shares of Dime Community Bancshares stock opened at $33.70 on Friday. The company has a 50-day moving average of $29.30 and a two-hundred day moving average of $24.01. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $35.21. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market cap of $1.32 billion, a PE ratio of 22.11 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last released 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). The firm had revenue of $171.87 million during the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same period in the previous year, the business earned $0.56 earnings per share. On average, research analysts anticipate that Dime Community Bancshares, Inc. will post 1.48 EPS for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 66.67%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in DCOM. Empowered Funds LLC raised its position in Dime Community Bancshares by 8.1% during the first quarter. Empowered Funds LLC now owns 65,316 shares of the savings and loans company’s stock worth $1,258,000 after acquiring an additional 4,900 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Dime Community Bancshares by 7.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 21,052 shares of the savings and loans company’s stock worth $405,000 after purchasing an additional 1,442 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Dime Community Bancshares by 27.0% in the 1st quarter. Russell Investments Group Ltd. now owns 83,071 shares of the savings and loans company’s stock valued at $1,600,000 after buying an additional 17,645 shares in the last quarter. Entropy Technologies LP purchased a new stake in Dime Community Bancshares in the 1st quarter valued at approximately $299,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Dime Community Bancshares by 124.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 22,456 shares of the savings and loans company’s stock valued at $433,000 after buying an additional 12,470 shares during the last quarter. 75.27% of the stock is currently 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.