Basswood Capital Management, L Sells 32,751 Shares of Dime Community Bancshares (NASDAQ:DCOM) Stock

Dime Community Bancshares, Inc. (NASDAQ:DCOM) Director Basswood Capital Management, L sold 32,751 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $39.02, for a total value of $1,277,944.02. Following the sale, the director directly owned 6,785 shares of the company’s stock, valued at approximately $264,750.70. This represents a 82.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, June 12th, Basswood Capital Management, L sold 15,870 shares of Dime Community Bancshares stock. The stock was sold at an average price of $40.08, for a total value of $636,069.60.
• On Tuesday, June 16th, Basswood Capital Management, L sold 14,019 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.29, for a total value of $550,806.51.
• On Monday, June 15th, Basswood Capital Management, L sold 14,513 shares of Dime Community Bancshares stock. The stock was sold at an average price of $39.67, for a total value of $575,730.71.

Dime Community Bancshares Trading Down 0.1%

Shares of NASDAQ DCOM opened at $39.73 on Thursday. Dime Community Bancshares, Inc. has a 12 month low of $25.63 and a 12 month high of $40.76. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 16.83 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $37.31 and a 200-day simple moving average of $34.31.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Dime Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen lowered shares of Dime Community Bancshares from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. DA Davidson upped their price target on shares of Dime Community Bancshares from $39.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Piper Sandler assumed coverage on shares of Dime Community Bancshares in a research note on Monday, March 16th. They issued an “overweight” rating and a $37.00 price objective for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Dime Community Bancshares from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DCOM. Royal Bank of Canada boosted its stake in shares of Dime Community Bancshares by 15.7% during the 1st quarter. Royal Bank of Canada now owns 23,143 shares of the savings and loans company’s stock valued at $645,000 after buying an additional 3,135 shares during the period. AQR Capital Management LLC increased its stake in shares of Dime Community Bancshares by 132.3% in the first quarter. AQR Capital Management LLC now owns 169,503 shares of the savings and loans company’s stock worth $4,726,000 after acquiring an additional 96,523 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Dime Community Bancshares by 17.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,621 shares of the savings and loans company’s stock worth $659,000 after acquiring an additional 3,443 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Dime Community Bancshares by 5.9% during the first quarter. Goldman Sachs Group Inc. now owns 324,976 shares of the savings and loans company’s stock worth $9,060,000 after acquiring an additional 18,195 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Dime Community Bancshares by 5.4% during the first quarter. Empowered Funds LLC now owns 82,084 shares of the savings and loans company’s stock worth $2,289,000 after acquiring an additional 4,231 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

About Dime Community Bancshares

Dime Community Bancshares, Inc is the bank holding company for Dime Community Bank, headquartered in Hauppauge, New York. Through its subsidiary, the company offers a comprehensive suite of banking and financial services to both individual and commercial customers. With a network of branches spanning the New York metropolitan area and South Florida, Dime Community Bancshares emphasizes relationship banking and local decision-making.

The company’s core lending activities include commercial and multifamily real estate loans, construction and land development financing, and one-to-four-family residential mortgage lending.