Q4 EPS Forecast for Dime Community Bancshares Cut by Analyst

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – DA Davidson cut their Q4 2024 earnings estimates for Dime Community Bancshares in a research report issued on Thursday, November 14th. DA Davidson analyst M. Navas now anticipates that the savings and loans company will post earnings of $0.42 per share for the quarter, down from their previous forecast of $0.43. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.48 per share.

A number of other research analysts also recently commented on the company. Keefe, Bruyette & Woods increased their price target on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Piper Sandler downgraded shares of Dime Community Bancshares from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $23.00 to $26.00 in a research note on Tuesday, July 23rd. Raymond James increased their price target on shares of Dime Community Bancshares from $35.00 to $36.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Dime Community Bancshares presently has an average rating of “Moderate Buy” and an average target price of $29.50.

Dime Community Bancshares Stock Performance

Dime Community Bancshares stock opened at $33.70 on Friday. The firm’s fifty day moving average price is $29.47 and its 200 day moving average price is $24.12. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 22.47 and a beta of 0.99. Dime Community Bancshares has a 12-month low of $17.29 and a 12-month high of $35.21.

Dime Community Bancshares (NASDAQ:DCOM) last posted its quarterly earnings data on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The firm had revenue of $171.87 million for the quarter, compared to analysts’ expectations of $86.65 million. Dime Community Bancshares had a net margin of 9.65% and a return on equity of 5.58%. During the same quarter in the prior year, the business earned $0.56 EPS.

Institutional Investors Weigh In On Dime Community Bancshares

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Dime Community Bancshares by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 2,479,855 shares of the savings and loans company’s stock worth $47,762,000 after purchasing an additional 19,999 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Dime Community Bancshares by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,173,003 shares of the savings and loans company’s stock valued at $44,328,000 after purchasing an additional 13,650 shares in the last quarter. Systematic Financial Management LP raised its position in Dime Community Bancshares by 15.1% during the third quarter. Systematic Financial Management LP now owns 1,090,834 shares of the savings and loans company’s stock valued at $31,416,000 after buying an additional 143,402 shares during the period. Geode Capital Management LLC boosted its position in Dime Community Bancshares by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 860,009 shares of the savings and loans company’s stock worth $24,773,000 after acquiring an additional 9,978 shares during the period. Finally, Boston Partners grew its stake in Dime Community Bancshares by 4.8% during the 1st quarter. Boston Partners now owns 693,457 shares of the savings and loans company’s stock valued at $13,334,000 after acquiring an additional 31,853 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.

Insiders Place Their Bets

In related news, Director Basswood Capital Management, L acquired 29,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were purchased at an average price of $32.00 per share, for a total transaction of $928,000.00. Following the acquisition, the director now owns 1,044,221 shares in the company, valued at approximately $33,415,072. This represents a 2.86 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.10% of the stock is currently owned by insiders.

Dime Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 24th. Investors of record on Thursday, October 17th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, October 17th. This represents a $1.00 annualized dividend and a yield of 2.97%. Dime Community Bancshares’s payout ratio is 66.67%.

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.