Insider Buying: Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Buys 29,000 Shares of Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L acquired 29,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average cost of $32.00 per share, with a total value of $928,000.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Dime Community Bancshares Price Performance

DCOM stock traded down $0.64 during midday trading on Friday, reaching $33.21. The company had a trading volume of 34,135 shares, compared to its average volume of 229,887. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 22.57 and a beta of 0.99. The stock has a 50 day moving average price of $29.13 and a 200-day moving average price of $23.95. Dime Community Bancshares, Inc. has a 1-year low of $17.29 and a 1-year 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.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The company had revenue of $171.87 million during the quarter, compared to analyst estimates 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 last year, the firm earned $0.56 EPS. Equities research analysts expect that Dime Community Bancshares, Inc. will post 1.48 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Kimelman & Baird LLC bought a new position in Dime Community Bancshares in the second quarter valued at about $56,000. GAMMA Investing LLC grew its position in Dime Community Bancshares by 30.4% in the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after acquiring an additional 685 shares during the last quarter. Nisa Investment Advisors LLC grew its position 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 acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC bought a new position in Dime Community Bancshares in the second quarter valued at about $101,000. Finally, EMC Capital Management grew its position in Dime Community Bancshares by 42.2% in the first quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock valued at $190,000 after acquiring an additional 2,924 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

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.