Insider Buying: Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Purchases 1,043 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L purchased 1,043 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $31.23 per share, for a total transaction of $32,572.89. Following the completion of the transaction, the director now owns 1,043 shares in the company, valued at approximately $32,572.89. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, November 12th, Basswood Capital Management, L bought 29,000 shares of Dime Community Bancshares stock. The shares were bought at an average cost of $32.00 per share, for a total transaction of $928,000.00.

Dime Community Bancshares Trading Up 3.9 %

Shares of Dime Community Bancshares stock traded up $1.21 on Tuesday, hitting $32.01. 140,413 shares of the company’s stock traded hands, compared to its average volume of 333,473. The company has a fifty day moving average of $32.51 and a two-hundred day moving average of $29.42. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 54.26 and a beta of 1.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. Dime Community Bancshares, Inc. has a one year low of $17.29 and a one year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.02). Dime Community Bancshares had a return on equity of 5.43% and a net margin of 4.50%. As a group, sell-side analysts expect that Dime Community Bancshares, Inc. will post 2.99 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 169.49%.

Hedge Funds Weigh In On Dime Community Bancshares

Large investors have recently made changes to their positions in the business. Quest Partners LLC raised its holdings in Dime Community Bancshares by 9.4% in the 3rd quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock valued at $155,000 after acquiring an additional 465 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Dime Community Bancshares by 17.4% in the fourth quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock valued at $106,000 after buying an additional 512 shares during the last quarter. KBC Group NV increased its position in Dime Community Bancshares by 50.8% during the fourth quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock worth $83,000 after purchasing an additional 909 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Dime Community Bancshares by 9.4% in the fourth quarter. Amalgamated Bank now owns 11,395 shares of the savings and loans company’s stock valued at $350,000 after purchasing an additional 978 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Dime Community Bancshares by 31.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock worth $182,000 after acquiring an additional 1,500 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.