Dime Community Bancshares, Inc. Expected to Post Q1 2024 Earnings of $0.43 Per Share (NASDAQ:DCOM)

Dime Community Bancshares, Inc. (NASDAQ:DCOMFree Report) – Equities research analysts at DA Davidson issued their Q1 2024 earnings per share (EPS) estimates for shares of Dime Community Bancshares in a research note issued to investors on Tuesday, January 30th. DA Davidson analyst M. Navas anticipates that the savings and loans company will post earnings per share of $0.43 for the quarter. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $2.17 per share.

Several other equities research analysts have also weighed in on DCOM. StockNews.com lowered Dime Community Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday. Raymond James raised their target price on Dime Community Bancshares from $23.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th.

Get Our Latest Stock Report on Dime Community Bancshares

Dime Community Bancshares Price Performance

Shares of NASDAQ DCOM opened at $21.83 on Wednesday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.06 and a current ratio of 1.07. Dime Community Bancshares has a fifty-two week low of $15.57 and a fifty-two week high of $32.26. The firm has a market capitalization of $847.44 million, a PE ratio of 9.53 and a beta of 1.14. The stock’s 50-day simple moving average is $24.61 and its 200-day simple moving average is $22.03.

Dime Community Bancshares (NASDAQ:DCOMGet Free Report) last posted its quarterly earnings results on Friday, January 26th. The savings and loans company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). Dime Community Bancshares had a net margin of 14.89% and a return on equity of 9.85%. The company 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 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DCOM. BlackRock Inc. grew its stake in shares of Dime Community Bancshares by 4.7% in the 2nd quarter. BlackRock Inc. now owns 5,529,621 shares of the savings and loans company’s stock valued at $97,487,000 after purchasing an additional 245,984 shares during the last quarter. State Street Corp grew its stake in shares of Dime Community Bancshares by 15.3% in the 2nd quarter. State Street Corp now owns 1,506,989 shares of the savings and loans company’s stock valued at $26,568,000 after purchasing an additional 199,889 shares during the last quarter. LSV Asset Management grew its stake in shares of Dime Community Bancshares by 59.5% in the 1st quarter. LSV Asset Management now owns 363,540 shares of the savings and loans company’s stock valued at $12,568,000 after purchasing an additional 135,614 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Dime Community Bancshares by 457.9% in the third quarter. AQR Capital Management LLC now owns 150,157 shares of the savings and loans company’s stock valued at $2,997,000 after buying an additional 123,242 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Dime Community Bancshares by 149.2% in the second quarter. Thrivent Financial for Lutherans now owns 151,390 shares of the savings and loans company’s stock valued at $2,669,000 after buying an additional 90,638 shares in the last quarter. 72.25% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Basswood Capital Management, L purchased 27,068 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were bought at an average price 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 in the company, valued at approximately $23,350,083. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.30% of the stock is currently owned by corporate insiders.

Dime Community Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Wednesday, January 17th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.58%. The ex-dividend date was Tuesday, January 16th. Dime Community Bancshares’s dividend payout ratio (DPR) is 43.67%.

Dime Community Bancshares Company Profile

(Get Free Report)

Dime Community Bancshares, Inc operates as the holding company for Dime Community Bank that provides various commercial banking and financial services. It accepts time, savings, and demand deposits from the businesses, consumers, and local municipalities. The company also offers commercial real estate loans; multi-family mortgage loans; residential mortgage loans; secured and unsecured commercial and consumer loans; home equity loans; and construction and land loans.

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