Basswood Capital Management, L Acquires 1,043 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L purchased 1,043 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average cost of $31.23 per share, with a total value of $32,572.89. Following the completion of the purchase, the director now owns 1,043 shares of the company’s stock, valued at $32,572.89. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

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

Dime Community Bancshares Stock Up 3.6 %

NASDAQ DCOM opened at $33.15 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.69. Dime Community Bancshares, Inc. has a 52 week low of $17.29 and a 52 week high of $37.60. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 56.19 and a beta of 1.05. The company has a fifty day moving average of $32.43 and a two-hundred day moving average of $29.47.

Dime Community Bancshares (NASDAQ:DCOM) last released 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 return on equity of 5.43% and a net margin of 4.50%. On average, analysts predict that Dime Community Bancshares, Inc. will post 2.99 earnings per share for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 17th were issued 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 3.02%. Dime Community Bancshares’s payout ratio is 169.49%.

Wall Street Analysts Forecast Growth

DCOM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods cut their target price 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 lifted their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, January 23rd. Finally, Stephens upgraded shares of Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $30.00 to $39.00 in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.40.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors and hedge funds have recently modified their holdings of DCOM. Quest Partners LLC increased its stake in Dime Community Bancshares by 9.4% in the third quarter. Quest Partners LLC now owns 5,397 shares of the savings and loans company’s stock worth $155,000 after purchasing an additional 465 shares during the period. GAMMA Investing LLC increased its stake in Dime Community Bancshares by 17.4% in the 4th quarter. GAMMA Investing LLC now owns 3,448 shares of the savings and loans company’s stock worth $106,000 after buying an additional 512 shares during the period. Parkside Financial Bank & Trust increased its stake in Dime Community Bancshares by 58.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,782 shares of the savings and loans company’s stock worth $55,000 after buying an additional 654 shares during the period. KBC Group NV boosted its position in Dime Community Bancshares by 50.8% in the 4th quarter. KBC Group NV now owns 2,697 shares of the savings and loans company’s stock valued at $83,000 after buying an additional 909 shares during the period. Finally, Amalgamated Bank grew its stake in Dime Community Bancshares by 9.4% in the 4th quarter. Amalgamated Bank now owns 11,395 shares of the savings and loans company’s stock worth $350,000 after acquiring an additional 978 shares in the last quarter. 75.27% of the stock is 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.