Equities Analysts Offer Predictions for Dime Community Bancshares, Inc.'s FY2024 Earnings (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOM - Free Report) - Analysts at DA Davidson dropped their FY2024 earnings per share (EPS) estimates for Dime Community Bancshares in a report issued on Thursday, April 25th. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings of $1.55 per share 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.

Dime Community Bancshares (NASDAQ:DCOM - Get Free Report) last announced its quarterly earnings data on Friday, January 26th. The savings and loans company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.09). The firm had revenue of $167.63 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.99 earnings per share.

Several other research firms have also commented on DCOM. Raymond James lowered their target price on Dime Community Bancshares from $30.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, March 13th. StockNews.com lowered Dime Community Bancshares from a "hold" rating to a "sell" rating in a report on Thursday, March 21st. Finally, Keefe, Bruyette & Woods lowered their target price on 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 Stock Up 2.9 %

Dime Community Bancshares stock traded up $0.54 during midday trading on Friday, hitting $19.08. The stock had a trading volume of 160,074 shares, compared to its average volume of 256,405. The company has a current ratio of 1.02, a quick ratio of 1.06 and a debt-to-equity ratio of 0.87. The stock has a market cap of $741.83 million, a P/E ratio of 10.62 and a beta of 1.02. Dime Community Bancshares has a 12 month low of $15.57 and a 12 month high of $27.91. The business has a fifty day moving average price of $18.63 and a 200 day moving average price of $21.02.

Institutional Investors Weigh In On Dime Community Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its position in Dime Community Bancshares by 2.1% in the third quarter. Raymond James & Associates now owns 31,588 shares of the savings and loans company's stock worth $630,000 after purchasing an additional 656 shares during the period. Swiss National Bank lifted its position in shares of 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 acquiring an additional 700 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Dime Community Bancshares by 2.7% during the 4th quarter. SG Americas Securities LLC now owns 31,062 shares of the savings and loans company's stock valued at $836,000 after acquiring an additional 825 shares during the last quarter. Amalgamated Bank lifted its position in shares of Dime Community Bancshares by 7.8% during the 3rd quarter. Amalgamated Bank now owns 13,799 shares of the savings and loans company's stock valued at $275,000 after acquiring an additional 1,001 shares during the last quarter. Finally, TD Asset Management Inc lifted its position in shares of Dime Community Bancshares by 2.7% during the 3rd quarter. TD Asset Management Inc now owns 61,310 shares of the savings and loans company's stock valued at $1,224,000 after acquiring an additional 1,600 shares during the last quarter. 75.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dime Community Bancshares

In other news, Director Basswood Capital Management, L bought 27,068 shares of the business's stock in a transaction on Wednesday, January 31st. The stock was purchased at an average cost of $23.00 per share, for a total transaction of $622,564.00. Following the completion of the transaction, the director now directly owns 1,015,221 shares of the company's stock, valued at approximately $23,350,083. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.30% of the company's stock.

Dime Community Bancshares Announces Dividend

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