Brokers Offer Predictions for Dime Community Bancshares, Inc.’s Q2 2023 Earnings (NASDAQ:DCOM)

Posted by Defense World Staff on May 4th, 2023

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) – Research analysts at DA Davidson issued their Q2 2023 EPS estimates for shares of Dime Community Bancshares in a note issued to investors on Tuesday, May 2nd. DA Davidson analyst M. Navas anticipates that the savings and loans company will earn $0.71 per share for the quarter. The consensus estimate for Dime Community Bancshares’ current full-year earnings is $3.38 per share.

Several other equities research analysts have also recently weighed in on the stock. Stephens dropped their price target on shares of Dime Community Bancshares to $35.00 in a research report on Thursday, February 9th. Keefe, Bruyette & Woods decreased their price objective on shares of Dime Community Bancshares from $36.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. Raymond James decreased their price target on shares of Dime Community Bancshares from $34.00 to $27.00 in a research note on Monday. StockNews.com started coverage on shares of Dime Community Bancshares in a research note on Thursday, March 16th. They set a “hold” rating for the company. Finally, TheStreet downgraded shares of Dime Community Bancshares from a “b-” rating to a “c+” rating in a report on Friday, April 21st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.75.

Dime Community Bancshares Trading Down 0.7 %

Shares of DCOM opened at $18.16 on Wednesday. The stock has a market capitalization of $704.68 million, a P/E ratio of 4.74 and a beta of 1.05. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $24.10 and a two-hundred day simple moving average of $29.68. Dime Community Bancshares has a twelve month low of $17.96 and a twelve month high of $36.51.

Dime Community Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 24th. Stockholders of record on Monday, April 17th were given a dividend of $0.25 per share. The ex-dividend date was Friday, April 14th. This represents a $1.00 annualized dividend and a dividend yield of 5.51%. This is a boost from Dime Community Bancshares’s previous quarterly dividend of $0.24. Dime Community Bancshares’s dividend payout ratio (DPR) is presently 26.11%.

Insider Activity

In other news, Director Basswood Capital Management, L sold 20,037 shares of the business’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $31.23, for a total transaction of $625,755.51. Following the completion of the sale, the director now directly owns 5,560 shares of the company’s stock, valued at $173,638.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.30% of the company’s stock.

Hedge Funds Weigh In On Dime Community Bancshares

A number of large investors have recently added to or reduced their stakes in DCOM. Raymond James & Associates boosted its position in Dime Community Bancshares by 6.6% in the 1st quarter. Raymond James & Associates now owns 60,591 shares of the savings and loans company’s stock worth $2,095,000 after purchasing an additional 3,740 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Dime Community Bancshares by 12.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 6,572 shares of the savings and loans company’s stock valued at $227,000 after buying an additional 707 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Dime Community Bancshares by 29.8% during the 1st quarter. American Century Companies Inc. now owns 58,176 shares of the savings and loans company’s stock valued at $2,011,000 after buying an additional 13,341 shares in the last quarter. Citigroup Inc. lifted its position in shares of Dime Community Bancshares by 14.4% during the 1st quarter. Citigroup Inc. now owns 29,735 shares of the savings and loans company’s stock valued at $1,028,000 after buying an additional 3,749 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Dime Community Bancshares by 56.8% during the 1st quarter. MetLife Investment Management LLC now owns 17,770 shares of the savings and loans company’s stock valued at $614,000 after buying an additional 6,434 shares in the last quarter. 72.38% of the stock is currently owned by institutional investors.

About Dime Community Bancshares

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The largest community bank headquartered in Brooklyn, New York, chartered on April 19, 1864. The bank specializes in Commercial Mortgage finance in the NY Metro area and services depositors in 24 full service branches throughout Brooklyn, Queens, Nassau, and the Bronx.