DA Davidson Issues Negative Outlook for DCOM Earnings

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Equities research analysts at DA Davidson lowered their Q4 2024 EPS estimates for shares of Dime Community Bancshares in a report released on Thursday, November 14th. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings per share of $0.42 for the quarter, down from their prior forecast of $0.43. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.48 per share.

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

Dime Community Bancshares Trading Down 0.4 %

NASDAQ DCOM opened at $33.70 on Friday. Dime Community Bancshares has a one year low of $17.29 and a one year high of $35.21. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $1.32 billion, a P/E ratio of 22.11 and a beta of 0.99. The stock’s 50-day moving average is $29.30 and its 200-day moving average is $24.01.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The firm had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the prior year, the company earned $0.56 EPS.

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a dividend yield of 2.97%. Dime Community Bancshares’s dividend payout ratio is presently 66.67%.

Insider Buying and Selling

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 29,000 shares of Dime Community Bancshares stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the completion of the acquisition, the director now owns 1,044,221 shares of the company’s stock, valued at approximately $33,415,072. This trade represents a 2.86 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 9.10% of the stock is owned by corporate insiders.

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently made changes to their positions in DCOM. Kimelman & Baird LLC acquired a new position in shares of Dime Community Bancshares during the 2nd quarter worth approximately $56,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 685 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Dime Community Bancshares by 496.9% in the second quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock valued at $98,000 after purchasing an additional 4,000 shares during the last quarter. Quest Partners LLC bought a new position in shares of Dime Community Bancshares in the second quarter valued at about $101,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Dime Community Bancshares during the 3rd quarter worth about $235,000. 75.27% of the stock is owned by institutional investors and hedge funds.

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.