DA Davidson Weighs in on Dime Community Bancshares, Inc.’s Q2 2024 Earnings (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for Dime Community Bancshares in a note issued to investors on Thursday, April 25th. DA Davidson analyst M. Navas anticipates that the savings and loans company will post earnings of $0.31 per share for the quarter. DA Davidson currently has a “Buy” rating and a $28.00 target price on the stock. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.67 per share.

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

Other equities analysts also recently issued research reports about the stock. StockNews.com downgraded shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Raymond James cut their price objective on shares of Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Dime Community Bancshares from $30.00 to $25.50 and set an “outperform” rating for the company in a research report on Friday, April 5th.

Dime Community Bancshares Stock Up 2.9 %

Shares of DCOM stock opened at $19.08 on Monday. Dime Community Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $27.91. The firm has a market capitalization of $741.83 million, a PE ratio of 10.72 and a beta of 1.02. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.06 and a current ratio of 1.02. The stock’s 50-day simple moving average is $18.62 and its 200-day simple moving average is $21.03.

Institutional Trading of Dime Community Bancshares

Several institutional investors have recently bought and sold shares of DCOM. AJOVista LLC acquired a new position in shares of Dime Community Bancshares during the 4th quarter worth approximately $82,000. GAMMA Investing LLC acquired a new position in Dime Community Bancshares during the fourth quarter worth $92,000. C M Bidwell & Associates Ltd. purchased a new position in Dime Community Bancshares during the third quarter valued at $118,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Dime Community Bancshares in the third quarter valued at about $132,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of Dime Community Bancshares by 24.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,837 shares of the savings and loans company’s stock worth $247,000 after purchasing an additional 2,523 shares in the last quarter. 75.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Basswood Capital Management, L acquired 27,068 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was acquired at an average price 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.30% of the company’s stock.

Dime Community Bancshares Announces Dividend

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

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.