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 estimates for Dime Community Bancshares in a research report issued to clients and investors on Thursday, April 25th. DA Davidson analyst M. Navas expects that the savings and loans company will earn $0.31 per share for the quarter. DA Davidson currently 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.

DCOM has been the subject of a number of other research reports. StockNews.com lowered shares of Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Keefe, Bruyette & Woods reduced their price objective 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. Finally, Raymond James reduced their price objective 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.

Dime Community Bancshares Stock Down 1.7 %

DCOM stock opened at $18.75 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.87. Dime Community Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $27.91. The firm’s 50-day simple moving average is $18.60 and its 200 day simple moving average is $21.02. The stock has a market cap of $728.96 million, a PE ratio of 10.53 and a beta of 1.02.

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

Dime Community Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Wednesday, April 17th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Tuesday, April 16th. Dime Community Bancshares’s dividend payout ratio is presently 56.18%.

Insider Buying and Selling at Dime Community Bancshares

In related news, Director Basswood Capital Management, L purchased 27,068 shares of Dime Community Bancshares stock in a transaction dated Wednesday, January 31st. The stock was acquired at an average cost of $23.00 per share, with a total value 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 $23,350,083. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AJOVista LLC acquired a new stake in shares of Dime Community Bancshares in the fourth quarter worth $82,000. GAMMA Investing LLC acquired a new stake in Dime Community Bancshares during the fourth quarter worth $92,000. C M Bidwell & Associates Ltd. acquired a new stake in Dime Community Bancshares during the third quarter worth $118,000. DekaBank Deutsche Girozentrale acquired a new stake in Dime Community Bancshares during the third quarter worth $132,000. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in 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 buying an additional 2,523 shares in the last quarter. Institutional investors and hedge funds 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.