Director-Affiliated Fund Files Intent to Sell $441K in Shares Amidst Ongoing Insider Distribution
DCOM sits 52% above its 52-week low of $25.625 on elevated volume (1.9× avg).
Summary
A director-affiliated fund, Basswood Financial Fund, L.P., has filed a Form 144 indicating its intent to sell 11,401 shares valued at approximately $441,903, adding to its recent selling activity.
Key Events · Ownership and Investor Activity · DCOM
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Proposed Share Sale
Basswood Financial Fund, L.P. intends to sell 11,401 shares of common stock, valued at approximately $441,903.
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Director-Affiliated Filer
The selling entity, Basswood Financial Fund, L.P., is associated with a director of Dime Commercial Bancshares.
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Recent Selling History
This proposed sale follows the sale of 14,322 shares by the same entity, generating gross proceeds of $568,995.14, over the past three months.
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Market Context
The intent to sell comes as the company's stock is trading near its 52-week high of $40.76.
Analysis · DCOM · Finance
Basswood Financial Fund, L.P., a fund associated with a director, has filed an intent to sell an additional $441,903 worth of shares. This follows over $568,000 in sales by the same entity in the past three months, contributing to a broader trend of over $2.2 million in net insider selling over the last 90 days. The selling occurs while the stock is trading near its 52-week high, suggesting profit-taking by a significant shareholder and potentially creating an overhang on the stock.
At the time of this filing, DCOM was trading at $39.00 on NYSE in the Finance sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $25.63 to $40.76. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.