What is DA Davidson’s Estimate for DCOM FY2024 Earnings?

Dime Community Bancshares, Inc. (NASDAQ:DCOM) – Investment analysts at DA Davidson dropped their FY2024 earnings per share estimates for shares of Dime Community Bancshares in a report issued on Thursday, October 24th. DA Davidson analyst M. Navas now forecasts that the savings and loans company will post earnings per share of $1.48 for the year, down from their previous estimate of $1.60. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $1.61 per share. DA Davidson also issued estimates for Dime Community Bancshares’ Q4 2024 earnings at $0.43 EPS and FY2025 earnings at $3.00 EPS.

Other equities research analysts have also issued research reports about the company. Piper Sandler lowered Dime Community Bancshares from an “overweight” rating to a “neutral” rating and upped their target price for the company from $23.00 to $26.00 in a research report on Tuesday, July 23rd. Raymond James upped their target price on Dime Community Bancshares from $35.00 to $36.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 2nd. StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Saturday, September 21st. Finally, Keefe, Bruyette & Woods upped their target price on Dime Community Bancshares from $25.50 to $28.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.50.

Dime Community Bancshares Stock Performance

Shares of Dime Community Bancshares stock opened at $30.54 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 17.16 and a beta of 1.00. Dime Community Bancshares has a 52 week low of $17.29 and a 52 week high of $31.75. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average price of $27.01 and a 200 day moving average price of $22.58.

Dime Community Bancshares (NASDAQ:DCOM) last released its quarterly earnings results on Tuesday, October 22nd. The savings and loans company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The firm had revenue of $171.87 million during the quarter, compared to the consensus estimate of $86.65 million. Dime Community Bancshares had a net margin of 9.98% and a return on equity of 6.58%. During the same quarter in the prior year, the business posted $0.56 earnings per share.

Institutional Trading of Dime Community Bancshares

A number of hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its holdings in Dime Community Bancshares by 0.4% during the second quarter. Rhumbline Advisers now owns 109,328 shares of the savings and loans company’s stock valued at $2,230,000 after purchasing an additional 428 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Dime Community Bancshares by 30.4% during the 3rd quarter. GAMMA Investing LLC now owns 2,936 shares of the savings and loans company’s stock valued at $85,000 after buying an additional 685 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Dime Community Bancshares by 7.4% in the first quarter. Illinois Municipal Retirement Fund now owns 21,052 shares of the savings and loans company’s stock valued at $405,000 after acquiring an additional 1,442 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Dime Community Bancshares by 31.2% in the third quarter. Nisa Investment Advisors LLC now owns 6,305 shares of the savings and loans company’s stock valued at $182,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Dime Community Bancshares by 4.5% in the second quarter. Victory Capital Management Inc. now owns 46,000 shares of the savings and loans company’s stock worth $938,000 after acquiring an additional 2,000 shares during the period. 75.27% of the stock is owned by hedge funds and other institutional investors.

Dime Community Bancshares Announces Dividend

The company also recently declared 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. This represents a $1.00 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Thursday, October 17th. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 56.18%.

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.