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Dime Community Bancshares (DCOM)
NASDAQ:DCOM
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Earnings Data
Report Date
Jan 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.45Last Year’s EPS
$0.39Same Quarter Last Year
Strong Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 22, 2024
|% Change Since: 7.26%
|Next Earnings Date:Jan 24, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted significant growth in core deposits and business loans, improvement in net interest margin, and strong asset quality. However, it also noted increased noninterest expenses and higher loan loss provisions. The overall sentiment is cautiously optimistic, with a positive outlook on future growth and profitability.Company Guidance
During Dime Community Bancshares' third quarter earnings call, the company reported significant growth in core deposits and business loans, with an increase of over $500 million in core deposits and $125 million in business loans. The net interest margin (NIM) improved by 29 basis points to 250 basis points compared to the first quarter, driven by a 4 basis point reduction in the cost of total deposits. The bank aims to achieve a NIM greater than 3% in 2025, with further expansion anticipated due to the Federal Reserve's recent rate cut. Cash and noninterest expenses rose to $57.4 million, with expectations to maintain this level into 2025. Asset quality remained solid, with net charge-offs at 15 basis points, while criticized and classified assets were stable, and delinquencies decreased by 28% on a linked-quarter basis. The bank's capital position strengthened, with a total capital ratio of 14.8% and a common equity Tier 1 ratio of 10.2%. Dime plans to build its loan loss reserve to 90 basis points to 1% over the next 9 to 12 months, driven by a shift towards business loans, including C&I and healthcare loans, supported by a robust pipeline.Strong Growth in Core Deposits and Business Loans
Core deposits grew by over $500 million, and the business loan portfolio increased by $125 million in the third quarter.
Net Interest Margin Expansion
Net interest margin increased to 250 basis points, a 29 basis point improvement from the first quarter of 2024.
Solid Asset Quality
Asset quality remains strong with net charge-offs contained at 15 basis points, and early-stage delinquencies down 28% on a linked-quarter basis.
Capital Ratios Improvement
Total capital ratio increased to 14.8%, and the common equity Tier 1 ratio was at 10.2% as of September 30th.
Positive Loan Growth Outlook
A strong pipeline in middle market, C&I, and healthcare verticals with a weighted average rate of 8% on new business loans.
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DCOM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DCOM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 22, 2024 | $29.21 | $29.17 | -0.14% |
| Jul 23, 2024 | $23.66 | $24.54 | +3.72% |
| Apr 23, 2024 | $18.72 | $19.08 | +1.92% |
| Jan 26, 2024 | $24.27 | $23.14 | -4.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Dime Community Bancshares (DCOM) report earnings?
Dime Community Bancshares (DCOM) is schdueled to report earning on Jan 24, 2025, TBA Not Confirmed.
What is Dime Community Bancshares (DCOM) earnings time?
Dime Community Bancshares (DCOM) earnings time is at Jan 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DCOM EPS forecast?
DCOM EPS forecast for the fiscal quarter 2024 (Q4) is $0.45.
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