Regional bank Dime Community Bancshares (NASDAQ: DCOM) will be reporting earnings this Thursday before market hours. Here’s what to look for.
Dime Community Bancshares beat analysts’ revenue expectations last quarter, reporting revenues of $124 million, up 19.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss of analysts’ tangible book value per share estimates.
Is Dime Community Bancshares a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Dime Community Bancshares’s revenue to grow 12.7% year on year, slowing from the 30.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Dime Community Bancshares rarely misses Wall Street’s revenue estimates.
Looking at Dime Community Bancshares’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and BOK Financial reported revenues up 10.1%, topping estimates by 2.8%. BOK Financial’s stock price was unchanged following the results.
Read our full analysis of OFG Bancorp’s results here and BOK Financial’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 4.8% on average over the last month. Dime Community Bancshares is up 2.6% during the same time and is heading into earnings with an average analyst price target of $44.80 (compared to the current share price of $40.17).
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