DA Davidson analyst Manuel Navas lowered the firm’s price target on Dime Community to $30 from $31 but keeps a Buy rating on the shares. The company’s Q4 results missed on pre-provision net revenue and earnings due to funding pressures driving net interest margin contraction, the analyst tells investors in a research note. Deposit declines mask strength from deposit teams hired in 2023 however, the firm states, adding that the bank’s net interest margin is also set to expand rapidly with rate cuts.
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