Dime Community upgraded to Overweight at Stephens after equity raise

As previously reported, Stephens analyst Matt Breese upgraded Dime Community (DCOM) to Overweight from Equal Weight with a price target of $39, up from $30, following last week’s $144M common equity raise. The firm raised its 2024, 2025 and 2026 operating EPS estimates by 2%, 9% and 1%, respectively, telling investors that with the capital and expected securities and BOLI restructuring, it sees a duel benefit with a higher estimated ROA of about 1.20% in 2026 and reduction in the commercial real estate, or CRE, concentration ratio.