DA Davidson Has Pessimistic Outlook of DCOM FY2024 Earnings

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Equities research analysts at DA Davidson cut their FY2024 EPS estimates for Dime Community Bancshares in a research report issued to clients and investors on Thursday, October 24th. DA Davidson analyst M. Navas now forecasts that the savings and loans company will post earnings of $1.48 per share for the year, down from their prior estimate of $1.60. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.61 per share. DA Davidson also issued estimates for Dime Community Bancshares’ Q4 2024 earnings at $0.43 EPS and FY2025 earnings at $3.00 EPS.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. The business had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. During the same period in the prior year, the firm earned $0.56 EPS.

Several other equities analysts have also recently weighed in on DCOM. Keefe, Bruyette & Woods lifted their price objective on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler cut shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $23.00 to $26.00 in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Saturday, September 21st. Finally, Raymond James boosted their target price on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Dime Community Bancshares currently has an average rating of “Moderate Buy” and an average price target of $29.50.

Dime Community Bancshares Trading Down 3.3 %

Shares of DCOM stock opened at $29.53 on Friday. The stock has a market cap of $1.15 billion, a P/E ratio of 16.59 and a beta of 1.00. Dime Community Bancshares has a 1 year low of $17.29 and a 1 year high of $31.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.79. The stock has a 50 day simple moving average of $27.28 and a 200 day simple moving average of $22.71.

Institutional Investors Weigh In On Dime Community Bancshares

Hedge funds have recently made changes to their positions in the stock. Kimelman & Baird LLC bought a new position in Dime Community Bancshares in the 2nd quarter valued at approximately $56,000. GAMMA Investing LLC increased its holdings in shares of Dime Community Bancshares by 30.4% during the third quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after buying an additional 685 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Dime Community Bancshares by 496.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Dime Community Bancshares during the 2nd quarter valued at $101,000. Finally, EMC Capital Management grew its position in Dime Community Bancshares by 42.2% during the 1st quarter. EMC Capital Management now owns 9,861 shares of the savings and loans company’s stock worth $190,000 after acquiring an additional 2,924 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Dime Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

About Dime Community Bancshares

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.