Michael Fegan Sells 2,000 Shares of Dime Community Bancshares, Inc. (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Michael Fegan sold 2,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $35.76, for a total transaction of $71,520.00. Following the completion of the sale, the chief technology officer now owns 20,155 shares of the company’s stock, valued at approximately $720,742.80. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Dime Community Bancshares Stock Up 0.5 %

Shares of DCOM opened at $34.99 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a market cap of $1.37 billion, a P/E ratio of 23.33 and a beta of 1.03. The company’s 50-day moving average price is $32.48 and its 200 day moving average price is $26.18. Dime Community Bancshares, Inc. has a 12-month low of $17.29 and a 12-month high of $37.60.

Dime Community Bancshares (NASDAQ:DCOM) last issued its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate 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 return on equity of 5.58% and a net margin of 9.65%. During the same quarter in the prior year, the company posted $0.56 earnings per share. On average, sell-side analysts forecast that Dime Community Bancshares, Inc. will post 1.49 earnings per share for the current year.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.86%. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

Several research firms recently commented on DCOM. Raymond James increased their price target 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. Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $30.00 to $39.00 in a research note on Monday, November 18th. Keefe, Bruyette & Woods upped their price objective on shares of Dime Community Bancshares from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.20.

Institutional Investors Weigh In On Dime Community Bancshares

Institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Dime Community Bancshares by 120.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 480,944 shares of the savings and loans company’s stock valued at $13,851,000 after acquiring an additional 263,225 shares during the period. Royce & Associates LP boosted its stake in shares of Dime Community Bancshares by 47.4% in the third quarter. Royce & Associates LP now owns 503,653 shares of the savings and loans company’s stock valued at $14,505,000 after purchasing an additional 162,004 shares during the period. Systematic Financial Management LP boosted its stake in shares of Dime Community Bancshares by 15.1% in the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after purchasing an additional 143,402 shares during the period. First Eagle Investment Management LLC grew its holdings in shares of Dime Community Bancshares by 33.9% in the second quarter. First Eagle Investment Management LLC now owns 488,554 shares of the savings and loans company’s stock valued at $9,967,000 after purchasing an additional 123,800 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Dime Community Bancshares by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 635,265 shares of the savings and loans company’s stock worth $12,959,000 after buying an additional 77,284 shares during the period. 75.27% of the stock is owned by institutional investors and hedge funds.

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.