DA Davidson Issues Pessimistic Estimate for DCOM Earnings

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Equities research analysts at DA Davidson dropped their Q4 2024 earnings per share estimates for shares of Dime Community Bancshares in a research report issued on Thursday, November 14th. DA Davidson analyst M. Navas now anticipates 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.

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

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

Dime Community Bancshares Stock Performance

NASDAQ:DCOM opened at $33.70 on Friday. The firm’s 50-day moving average is $29.30 and its 200-day moving average is $24.01. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 22.11 and a beta of 0.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.01. Dime Community Bancshares has a 52-week low of $17.29 and a 52-week high of $35.21.

Hedge Funds Weigh In On Dime Community Bancshares

A number of institutional investors have recently modified their holdings of DCOM. Kimelman & Baird LLC bought a new position in Dime Community Bancshares in the 2nd quarter worth approximately $56,000. GAMMA Investing LLC lifted its stake 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 valued at $85,000 after acquiring an additional 685 shares during the period. Nisa Investment Advisors LLC boosted its holdings in 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 acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC acquired a new stake in Dime Community Bancshares in the second quarter worth about $101,000. Finally, Vontobel Holding Ltd. bought a new stake in Dime Community Bancshares during the 3rd quarter worth about $235,000. 75.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Dime Community Bancshares news, Director Basswood Capital Management, L purchased 29,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was acquired at an average cost of $32.00 per share, with a total value of $928,000.00. Following the completion of the acquisition, the director now directly owns 1,044,221 shares of the company’s stock, valued at $33,415,072. This represents a 2.86 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 9.10% of the company’s stock.

Dime Community Bancshares Announces Dividend

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

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.