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

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L acquired 29,000 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Dime Community Bancshares Trading Down 0.4 %

NASDAQ DCOM opened at $33.70 on Friday. The firm’s fifty day moving average price is $29.30 and its 200 day moving average price is $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 debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 22.11 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.12). Dime Community Bancshares had a return on equity of 5.58% and a net margin of 9.65%. The firm had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. During the same period in the previous year, the business posted $0.56 EPS. On average, sell-side analysts expect that Dime Community Bancshares, Inc. will post 1.48 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

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

Analyst Ratings Changes

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

Institutional Investors Weigh In On Dime Community Bancshares

Several large investors have recently modified their holdings of DCOM. Kimelman & Baird LLC acquired a new position in shares of Dime Community Bancshares in the 2nd quarter valued at $56,000. GAMMA Investing LLC grew its position in Dime Community Bancshares by 30.4% during the 3rd 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 during the last quarter. Nisa Investment Advisors LLC increased its stake in 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 valued at $98,000 after purchasing an additional 4,000 shares during the period. Quest Partners LLC purchased a new stake in shares of Dime Community Bancshares in the second quarter valued at about $101,000. Finally, Vontobel Holding Ltd. acquired a new position in Dime Community Bancshares in the 3rd quarter valued at about $235,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.