Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Sells $93,750.00 in Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond A. Nielsen sold 3,000 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $31.25, for a total transaction of $93,750.00. Following the completion of the transaction, the director now directly owns 41,185 shares in the company, valued at approximately $1,287,031.25. This represents a 6.79 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Dime Community Bancshares Stock Performance

NASDAQ:DCOM opened at $30.59 on Thursday. The firm has a 50-day moving average of $31.30 and a two-hundred day moving average of $30.32. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $1.33 billion, a P/E ratio of 51.85 and a beta of 1.05. Dime Community Bancshares, Inc. has a 1-year low of $17.29 and a 1-year high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings results on Thursday, January 23rd. The savings and loans company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). Dime Community Bancshares had a net margin of 4.50% and a return on equity of 5.43%. On average, research analysts expect that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, January 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is currently 169.49%.

Institutional Trading of Dime Community Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC boosted its stake in Dime Community Bancshares by 125.0% during the 4th quarter. CoreCap Advisors LLC now owns 900 shares of the savings and loans company’s stock valued at $28,000 after acquiring an additional 500 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of Dime Community Bancshares by 861.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,135 shares of the savings and loans company’s stock valued at $35,000 after purchasing an additional 1,017 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Dime Community Bancshares by 58.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock worth $55,000 after purchasing an additional 654 shares during the last quarter. KBC Group NV grew its stake in Dime Community Bancshares by 50.8% in 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 in the last quarter. Finally, USA Financial Formulas bought a new stake in Dime Community Bancshares in the fourth quarter valued at about $92,000. Institutional investors own 75.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Keefe, Bruyette & Woods cut their price objective on Dime Community Bancshares from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Piper Sandler upgraded Dime Community Bancshares from a “neutral” rating to an “overweight” rating and increased their target price for the company from $36.00 to $38.00 in a research note on Thursday, January 23rd. Finally, Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $30.00 to $39.00 in a research report on Monday, November 18th. 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 data from MarketBeat.com, Dime Community Bancshares has a consensus rating of “Moderate Buy” and an average price target of $36.40.

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.