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.
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Read More on DCOM:
- Dime Community Bancshares Announces Follow-On Stock Issuance
- Dime Community prices 3.9M shares at $32.00 in public offering
- Dime Community reports Q3 EPS 29c, consensus 41c
- Is DCOM a Buy, Before Earnings?
- Dime Community price target raised to $36 from $35 at Raymond James
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
