DA Davidson Issues Negative Estimate for DCOM Earnings

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Equities research analysts at DA Davidson cut 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 forecasts that the savings and loans company will post earnings of $0.42 per share for the quarter, down from their previous estimate of $0.43. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.48 per share.

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

Dime Community Bancshares Stock Down 0.4 %

Shares of DCOM opened at $33.70 on Friday. The company’s 50-day simple moving average is $29.47 and its 200-day simple moving average is $24.12. 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 1 year low of $17.29 and a 1 year high of $35.21. The stock has a market capitalization of $1.32 billion, a PE ratio of 22.47 and a beta of 0.99.

Dime Community Bancshares (NASDAQ:DCOM) last posted its earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.12). The company had revenue of $171.87 million during the quarter, compared to analyst estimates 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 last year, the business posted $0.56 EPS.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Dime Community Bancshares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock valued at $47,762,000 after purchasing an additional 19,999 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Dime Community Bancshares by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock valued at $44,328,000 after acquiring an additional 13,650 shares during the last quarter. Systematic Financial Management LP increased its position in Dime Community Bancshares by 15.1% during the 3rd quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock worth $31,416,000 after purchasing an additional 143,402 shares in the last quarter. Geode Capital Management LLC raised its stake in Dime Community Bancshares by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock valued at $24,773,000 after purchasing an additional 9,978 shares during the last quarter. Finally, Boston Partners grew its holdings in shares of Dime Community Bancshares by 4.8% during the first quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock worth $13,334,000 after buying an additional 31,853 shares in the last quarter. 75.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Basswood Capital Management, L purchased 29,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were purchased at an average price 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 in the company, valued at $33,415,072. This represents a 2.86 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 9.10% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Announces Dividend

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

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.