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Dime Community Bancshares, Inc. (NASDAQ:DCOM) to Post Q1 2023 Earnings of $0.88 Per Share, DA Davidson Forecasts

Defense World · Feb 2, 2023 02:22

Dime Community Bancshares, Inc. (NASDAQ:DCOM – Get Rating) – Equities research analysts at DA Davidson issued their Q1 2023 EPS estimates for Dime Community Bancshares in a report released on Tuesday, January 31st. DA Davidson analyst M. Navas anticipates that the savings and loans company will earn $0.88 per share for the quarter. The consensus estimate for Dime Community Bancshares' current full-year earnings is $4.00 per share. DA Davidson also issued estimates for Dime Community Bancshares' FY2024 earnings at $4.15 EPS.

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A number of other analysts have also recently commented on the stock. Raymond James cut their price target on shares of Dime Community Bancshares from $38.00 to $34.00 and set an "outperform" rating on the stock in a research report on Monday. Piper Sandler cut their price target on shares of Dime Community Bancshares to $37.00 in a research report on Wednesday, October 5th. Stephens upped their price target on shares of Dime Community Bancshares from $35.00 to $38.00 and gave the company an "equal weight" rating in a research report on Monday, November 14th. Finally, StockNews.com started coverage on shares of Dime Community Bancshares in a research report on Wednesday, October 12th. They set a "hold" rating on the stock.

Dime Community Bancshares Stock Performance

Shares of DCOM opened at $30.60 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $1.18 billion, a P/E ratio of 8.20 and a beta of 1.11. The firm's fifty day simple moving average is $32.56 and its two-hundred day simple moving average is $32.51. Dime Community Bancshares has a 12 month low of $28.36 and a 12 month high of $36.82.

Dime Community Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 24th. Stockholders of record on Tuesday, January 17th were given a dividend of $0.24 per share. The ex-dividend date was Friday, January 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.14%. Dime Community Bancshares's dividend payout ratio (DPR) is presently 25.74%.

Insider Transactions at Dime Community Bancshares

In related news, insider Christopher J. Porzelt sold 2,000 shares of the firm's stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $33.50, for a total value of $67,000.00. Following the transaction, the insider now owns 13,716 shares of the company's stock, valued at approximately $459,486. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Christopher J. Porzelt sold 2,000 shares of the firm's stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $33.50, for a total value of $67,000.00. Following the transaction, the insider now owns 13,716 shares of the company's stock, valued at approximately $459,486. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Basswood Capital Management, L sold 15,680 shares of the firm's stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $34.12, for a total transaction of $535,001.60. Following the completion of the transaction, the director now directly owns 6,165 shares in the company, valued at approximately $210,349.80. The disclosure for this sale can be found here. Insiders have sold 145,551 shares of company stock valued at $4,966,927 in the last 90 days. 15.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dime Community Bancshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in DCOM. Brown Advisory Inc. increased its stake in Dime Community Bancshares by 229.7% in the 2nd quarter. Brown Advisory Inc. now owns 785,550 shares of the savings and loans company's stock valued at $23,292,000 after buying an additional 547,293 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Dime Community Bancshares during the 3rd quarter worth approximately $4,557,000. LSV Asset Management increased its stake in shares of Dime Community Bancshares by 59.5% during the 1st quarter. LSV Asset Management now owns 363,540 shares of the savings and loans company's stock worth $12,568,000 after purchasing an additional 135,614 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Dime Community Bancshares by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 2,167,447 shares of the savings and loans company's stock worth $74,929,000 after purchasing an additional 88,775 shares during the last quarter. Finally, Polaris Capital Management LLC increased its stake in shares of Dime Community Bancshares by 14.4% during the 2nd quarter. Polaris Capital Management LLC now owns 680,600 shares of the savings and loans company's stock worth $68,884,000 after purchasing an additional 85,720 shares during the last quarter. Hedge funds and other institutional investors own 72.38% of the company's stock.

Dime Community Bancshares Company Profile

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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.