Regional bank Dime Community Bancshares (NASDAQ: DCOM) will be reporting results this Thursday morning. Here’s what you need to know.
Dime Community Bancshares beat analysts’ revenue expectations last quarter, reporting revenues of $123.8 million, up 24.5% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ net interest income estimates and an impressive beat of analysts’ revenue 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 18% year on year, slowing from the 30% 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 to stay the course heading into earnings. Dime Community Bancshares has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Dime Community Bancshares’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.2%, beating analysts’ expectations by 4.8%, and East West Bank reported revenues up 11.8%, topping estimates by 2.8%.
Read our full analysis of OFG Bancorp’s results here and East West Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 8.8% on average over the last month. Dime Community Bancshares is up 10.2% during the same time and is heading into earnings with an average analyst price target of $39.60 (compared to the current share price of $36.22).
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