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

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for shares of Dime Community Bancshares in a report issued on Thursday, April 25th. DA Davidson analyst M. Navas forecasts that the savings and loans company will post earnings of $0.31 per share for the quarter. DA Davidson has a “Buy” rating and a $28.00 price objective 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 posted its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). Dime Community Bancshares had a net margin of 11.46% and a return on equity of 7.76%. The business had revenue of $167.63 million during the quarter, compared to analyst estimates of $81.01 million. During the same period in the prior year, the business earned $0.99 earnings per share.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. Raymond James decreased 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 report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods dropped 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 report on Friday, April 5th.

Dime Community Bancshares Trading Up 2.9 %

NASDAQ:DCOM opened at $19.08 on Monday. 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 quick ratio of 1.06 and a current ratio of 1.02. The stock has a fifty day moving average price of $18.62 and a two-hundred day moving average price of $21.03. The stock has a market capitalization of $741.83 million, a price-to-earnings ratio of 10.72 and a beta of 1.02.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. AJOVista LLC purchased a new stake in Dime Community Bancshares during the 4th quarter worth about $82,000. GAMMA Investing LLC acquired a new stake in shares of Dime Community Bancshares during the 4th quarter worth about $92,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Dime Community Bancshares during the third quarter worth about $118,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Dime Community Bancshares in the third quarter valued at approximately $132,000. Finally, Arizona State Retirement System purchased a new position in shares of Dime Community Bancshares during the fourth quarter valued at approximately $263,000. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dime Community Bancshares

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

Dime Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 17th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 5.24%. The ex-dividend date was Tuesday, April 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is 56.18%.

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.