DA Davidson Analysts Cut Earnings Estimates for Dime Community Bancshares, Inc. (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Research analysts at DA Davidson lowered their FY2024 EPS estimates for Dime Community Bancshares in a report released on Thursday, April 25th. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings per share of $1.55 for the year, down from their previous forecast of $1.65. DA Davidson has a “Buy” rating and a $28.00 price target on the stock. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.67 per share.

Several other analysts have also recently weighed in on the stock. Raymond James reduced their target price on shares of Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating on the stock in a report on Wednesday, March 13th. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Dime Community Bancshares from $30.00 to $25.50 and set an “outperform” rating on the stock in a research note on Friday, April 5th.

Dime Community Bancshares Stock Up 2.9 %

Shares of NASDAQ:DCOM opened at $19.08 on Friday. The firm’s 50 day moving average price is $18.62 and its 200 day moving average price is $21.02. The stock has a market cap of $741.83 million, a price-to-earnings ratio of 10.72 and a beta of 1.02. Dime Community Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $27.91. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 0.87.

Dime Community Bancshares (NASDAQ:DCOM) last issued its earnings results on Friday, January 26th. The savings and loans company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $167.63 million during the quarter, compared to analyst estimates of $81.01 million. Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. During the same period last year, the business earned $0.99 EPS.

Dime Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 17th were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, April 16th. This represents a $1.00 annualized dividend and a yield of 5.24%. Dime Community Bancshares’s dividend payout ratio is currently 56.18%.

Insider Buying and Selling at Dime Community Bancshares

In other Dime Community Bancshares news, Director Basswood Capital Management, L bought 27,068 shares of the stock in a transaction dated Wednesday, January 31st. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $622,564.00. Following the completion of the transaction, the director now owns 1,015,221 shares in the company, valued at approximately $23,350,083. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 10.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds have recently modified their holdings of DCOM. Swiss National Bank increased its stake in Dime Community Bancshares by 0.9% in the 3rd quarter. Swiss National Bank now owns 76,802 shares of the savings and loans company’s stock valued at $1,533,000 after buying an additional 700 shares during the period. Mutual of America Capital Management LLC increased its stake in Dime Community Bancshares by 48.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 163,148 shares of the savings and loans company’s stock valued at $4,394,000 after buying an additional 53,041 shares during the period. Alps Advisors Inc. acquired a new position in Dime Community Bancshares in the 3rd quarter valued at $331,000. New York State Common Retirement Fund increased its stake in Dime Community Bancshares by 5.9% in the 3rd quarter. New York State Common Retirement Fund now owns 124,739 shares of the savings and loans company’s stock valued at $2,490,000 after buying an additional 6,947 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Dime Community Bancshares in the 3rd quarter valued at $132,000. 75.27% of the stock is currently owned by hedge funds and other institutional investors.

Dime Community Bancshares Company Profile

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.