Insider Selling: Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Sells 3,000 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Raymond A. Nielsen sold 3,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was 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 owns 41,185 shares of the company’s stock, valued at $1,287,031.25. This trade represents a 6.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Dime Community Bancshares Stock Down 0.4 %

Shares of Dime Community Bancshares stock opened at $30.46 on Tuesday. 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 company has a 50-day moving average of $31.40 and a 200 day moving average of $30.26. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 51.63 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 earnings per share (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 anticipate that Dime Community Bancshares, Inc. will post 3.06 earnings per share for the current fiscal year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $1.00 annualized dividend and a dividend yield of 3.28%. Dime Community Bancshares’s payout ratio is 169.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on DCOM shares. Keefe, Bruyette & Woods decreased 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. Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $30.00 to $39.00 in a report on Monday, November 18th. Finally, Piper Sandler upgraded shares of Dime Community Bancshares from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $36.00 to $38.00 in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $36.40.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DCOM. CoreCap Advisors LLC increased 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 purchasing an additional 500 shares in the last quarter. Sterling Capital Management LLC increased its stake in Dime Community Bancshares by 861.9% during 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 increased its stake in Dime Community Bancshares by 58.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock valued at $55,000 after purchasing an additional 654 shares in the last quarter. KBC Group NV increased its stake in Dime Community Bancshares by 50.8% during the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after purchasing an additional 909 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in Dime Community Bancshares during the 4th quarter valued at about $92,000. 75.27% of the stock is currently owned by 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.