What is DA Davidson’s Estimate for DCOM FY2024 Earnings?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Analysts at DA Davidson decreased their FY2024 earnings estimates for Dime Community Bancshares in a research note issued to investors on Thursday, October 24th. DA Davidson analyst M. Navas now forecasts that the savings and loans company will earn $1.48 per share for the year, down from their previous 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.

A number of other research firms also recently weighed in on DCOM. StockNews.com downgraded Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Piper Sandler cut shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $23.00 to $26.00 in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, Raymond James increased their price objective 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Dime Community Bancshares has an average rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Stock Performance

Shares of Dime Community Bancshares stock opened at $29.53 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 16.59 and a beta of 1.00. Dime Community Bancshares has a one year low of $17.29 and a one year high of $31.75. The stock’s 50-day moving average is $27.28 and its 200-day moving average is $22.71.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 EPS for the quarter, missing the consensus estimate 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 company 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 posted $0.56 earnings per share.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio is currently 56.18%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DCOM. Kimelman & Baird LLC acquired a new stake in Dime Community Bancshares in the 2nd quarter valued at about $56,000. GAMMA Investing LLC boosted its stake in shares of Dime Community Bancshares by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock worth $85,000 after acquiring an additional 685 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Dime Community Bancshares by 496.9% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,805 shares of the savings and loans company’s stock worth $98,000 after acquiring an additional 4,000 shares during the last quarter. Quest Partners LLC bought a new stake in Dime Community Bancshares in the 2nd quarter valued at $101,000. Finally, EMC Capital Management lifted its holdings 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 valued at $190,000 after purchasing an additional 2,924 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.

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.