Dime Community Bancshares, Inc. Forecasted to Post Q3 2024 Earnings of $0.40 Per Share (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Analysts at DA Davidson reduced their Q3 2024 earnings per share (EPS) estimates for shares of Dime Community Bancshares in a research report issued to clients and investors on Thursday, October 3rd. DA Davidson analyst M. Navas now anticipates that the savings and loans company will earn $0.40 per share for the quarter, down from their prior forecast of $0.41. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.60 per share. DA Davidson also issued estimates for Dime Community Bancshares’ FY2025 earnings at $3.10 EPS.

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

Dime Community Bancshares Trading Up 0.8 %

Shares of Dime Community Bancshares stock opened at $28.16 on Friday. Dime Community Bancshares has a 12-month low of $17.29 and a 12-month high of $30.12. The stock has a market cap of $1.10 billion, a P/E ratio of 15.82 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $25.33 and its 200-day moving average is $21.60.

Dime Community Bancshares (NASDAQ:DCOM) last announced its quarterly earnings data on Tuesday, July 23rd. The savings and loans company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Dime Community Bancshares had a return on equity of 6.58% and a net margin of 9.98%. The company had revenue of $171.23 million for the quarter, compared to analysts’ expectations of $82.19 million. During the same quarter in the prior year, the business posted $0.68 EPS.

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, October 17th. Dime Community Bancshares’s payout ratio is 56.18%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DCOM. BHZ Capital Management LP increased its position in Dime Community Bancshares by 28.7% during the 4th quarter. BHZ Capital Management LP now owns 83,338 shares of the savings and loans company’s stock worth $2,244,000 after buying an additional 18,592 shares during the period. Hennessy Advisors Inc. bought a new position in Dime Community Bancshares during the 4th quarter worth $3,016,000. Hennion & Walsh Asset Management Inc. increased its position in Dime Community Bancshares by 24.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 12,837 shares of the savings and loans company’s stock worth $247,000 after buying an additional 2,523 shares during the period. Salzhauer Michael increased its position in Dime Community Bancshares by 446.0% during the 1st quarter. Salzhauer Michael now owns 129,915 shares of the savings and loans company’s stock worth $2,502,000 after buying an additional 106,121 shares during the period. Finally, Empowered Funds LLC increased its position in Dime Community Bancshares by 8.1% during the 1st quarter. Empowered Funds LLC now owns 65,316 shares of the savings and loans company’s stock worth $1,258,000 after buying an additional 4,900 shares during the period. Institutional investors own 75.27% of the company’s stock.

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.