Dime Community Bancshares, Inc. (NASDAQ:DCOM) Forecasted to Earn FY2024 Earnings of $1.55 Per Share

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Equities research analysts at DA Davidson cut their FY2024 earnings estimates for Dime Community Bancshares in a report released on Thursday, April 25th. DA Davidson analyst M. Navas now expects that the savings and loans company will post earnings per share of $1.55 for the year, down from their previous forecast of $1.65. DA Davidson has a “Buy” rating and a $28.00 price target on the stock. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.69 per share.

Several other analysts have also commented on DCOM. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Raymond James decreased their target price on shares of Dime Community Bancshares from $30.00 to $27.00 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods lowered 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 note on Friday, April 5th.

Dime Community Bancshares Trading Up 2.9 %

Shares of NASDAQ DCOM opened at $19.08 on Friday. The business has a fifty day moving average price of $18.62 and a 200 day moving average price of $21.02. Dime Community Bancshares has a 1-year low of $15.57 and a 1-year high of $27.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.02 and a quick ratio of 1.06. The stock has a market capitalization of $741.83 million, a P/E ratio of 10.72 and a beta of 1.02.

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

Dime Community Bancshares Dividend Announcement

The firm also recently declared 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%.

Insider Activity

In related news, Director Basswood Capital Management, L bought 27,068 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was bought at an average cost of $23.00 per share, for a total transaction of $622,564.00. Following the purchase, the director now directly owns 1,015,221 shares of the company’s stock, valued at $23,350,083. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank grew its stake in Dime Community Bancshares by 0.9% during the 3rd quarter. Swiss National Bank now owns 76,802 shares of the savings and loans company’s stock valued at $1,533,000 after purchasing an additional 700 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Dime Community Bancshares by 48.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 163,148 shares of the savings and loans company’s stock valued at $4,394,000 after buying an additional 53,041 shares during the last quarter. Alps Advisors Inc. acquired a new position in Dime Community Bancshares in the 3rd quarter worth approximately $331,000. New York State Common Retirement Fund raised its position in Dime Community Bancshares by 5.9% during the 3rd quarter. New York State Common Retirement Fund now owns 124,739 shares of the savings and loans company’s stock worth $2,490,000 after buying an additional 6,947 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Dime Community Bancshares during the 3rd quarter valued at approximately $132,000. Hedge funds and other 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.