Insider Selling: Dime Community Bancshares, Inc. (NASDAQ:DCOM) CTO Sells 2,000 Shares of Stock

by · The Cerbat Gem

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Free Report) CTO Michael Fegan sold 2,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $35.76, for a total value of $71,520.00. Following the transaction, the chief technology officer now owns 20,155 shares in the company, valued at $720,742.80. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Dime Community Bancshares Trading Up 0.2 %

DCOM traded up $0.06 during trading on Tuesday, hitting $35.40. The company’s stock had a trading volume of 114,095 shares, compared to its average volume of 234,880. Dime Community Bancshares, Inc. has a twelve month low of $17.29 and a twelve month high of $37.60. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average price is $32.19 and its 200-day moving average price is $26.01. The firm has a market capitalization of $1.39 billion, a P/E ratio of 23.56 and a beta of 1.03.

Dime Community Bancshares (NASDAQ:DCOM – Get Free Report) last issued its quarterly earnings results 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 net margin of 9.65% and a return on equity of 5.58%. The business had revenue of $171.87 million during the quarter, compared to analyst estimates of $86.65 million. During the same period last year, the firm posted $0.56 earnings per share. Analysts anticipate that Dime Community Bancshares, Inc. will post 1.49 EPS for the current year.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is currently 66.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in shares of Dime Community Bancshares by 1.2% during the third quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock valued at $24,773,000 after buying an additional 9,978 shares during the last quarter. Barclays PLC lifted its position in shares of Dime Community Bancshares by 91.0% during the third quarter. Barclays PLC now owns 75,732 shares of the savings and loans company’s stock valued at $2,181,000 after purchasing an additional 36,076 shares in the last quarter. Systematic Financial Management LP lifted its position in shares of Dime Community Bancshares by 15.1% during 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 in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Dime Community Bancshares by 120.9% during the third 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 purchasing an additional 263,225 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Dime Community Bancshares by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 316,611 shares of the savings and loans company’s stock valued at $9,118,000 after purchasing an additional 5,052 shares in the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DCOM has been the subject of a number of research reports. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Keefe, Bruyette & Woods lifted their target price on Dime Community Bancshares from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Raymond James lifted 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, Stephens raised Dime Community Bancshares from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $30.00 to $39.00 in a research note on Monday, November 18th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

Check Out Our Latest Stock Report on Dime Community Bancshares

Dime Community Bancshares Company Profile

(Get Free Report)

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.

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