Latest news with #DimeCommunityBancshares
Yahoo
04-08-2025
- Business
- Yahoo
Rocket Companies, The Bancorp, Dime Community Bancshares, Mr. Cooper Group, and Columbia Financial Shares Skyrocket, What You Need To Know
What Happened? A number of stocks jumped in the morning session after markets rebounded following a sharp sell-off in the previous trading session as investor optimism grew around a potential Federal Reserve interest rate cut following a weak U.S. jobs report. The softer-than-expected employment data for July fueled bets that the Fed could lower rates as soon as September to support the economy. This sentiment was reflected in the bond market, where the 10-year Treasury yield fell to a three-month low. Adding to the positive momentum, the Federal Deposit Insurance Corporation (FDIC) indicated it may support raising regulatory thresholds for banks, a move that could reduce compliance costs and further boost profitability for financial institutions. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Thrifts & Mortgage Finance company Rocket Companies (NYSE:RKT) jumped 3.4%. Is now the time to buy Rocket Companies? Access our full analysis report here, it's free. Regional Banks company The Bancorp (NASDAQ:TBBK) jumped 6%. Is now the time to buy The Bancorp? Access our full analysis report here, it's free. Regional Banks company Dime Community Bancshares (NASDAQ:DCOM) jumped 3.8%. Is now the time to buy Dime Community Bancshares? Access our full analysis report here, it's free. Thrifts & Mortgage Finance company Mr. Cooper Group (NASDAQ:COOP) jumped 3%. Is now the time to buy Mr. Cooper Group? Access our full analysis report here, it's free. Thrifts & Mortgage Finance company Columbia Financial (NASDAQ:CLBK) jumped 3.3%. Is now the time to buy Columbia Financial? Access our full analysis report here, it's free. Zooming In On The Bancorp (TBBK) The Bancorp's shares are quite volatile and have had 19 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 3 days ago when the stock dropped 3.4% on the news that a surprisingly weak July jobs report and the announcement of sweeping new tariffs fueled fears of an economic slowdown and an impending interest rate cut. The U.S. economy added just 73,000 jobs in July, the weakest gain in over two years, while the unemployment rate rose to 4.2%. This dismal data significantly increased market expectations for a Federal Reserve interest rate cut, with traders now pricing in an 80% probability of a cut in September. Lower interest rates typically harm bank profitability by compressing their net interest margins—the difference between what they earn on loans and pay on deposits. Compounding these worries, the announcement of new tariffs on imports from 92 countries has sparked fears of a global trade war, which could further dampen economic growth and disrupt supply chains, creating a challenging environment for the banking industry. The Bancorp is up 23.9% since the beginning of the year, and at $64.10 per share, it is trading close to its 52-week high of $69.62 from July 2025. Investors who bought $1,000 worth of The Bancorp's shares 5 years ago would now be looking at an investment worth $6,954. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
18-07-2025
- Business
- Business Upturn
Dime Honored as Lending Partner of The Year by NHSNYC
HAUPPAUGE, N.Y., July 17, 2025 (GLOBE NEWSWIRE) — Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the 'Company' or 'Dime'), the parent company of Dime Community Bank (the 'Bank'), announced that Dime is being honored as the Lending Partner of the Year at Neighborhood Housing Services of New York City's Bridging the Gap Gala being held on October 7th, 2025. NHSNYC is committed to increasing access to critical resources, strengthening their ability to meet the evolving needs of our shared community, and ensuring housing stability and financial security for more New Yorkers. ABOUT DIME COMMUNITY BANCSHARES, INC. Advertisement Dime Community Bancshares, Inc. is the holding company for Dime Community Bank, a New York State-chartered trust company with over $14 billion in assets and the number one deposit market share among community banks on Greater Long Island (1). Dime Community Bancshares, Inc. Investor Relations Contact: Avinash Reddy Senior Executive Vice President – Chief Financial Officer Phone: 718-782-6200; Ext. 5909 Email: [email protected] ¹ Aggregate deposit market share for Kings, Queens, Nassau & Suffolk counties for community banks with less than $20 billion in assets. FORWARD-LOOKING STATEMENTS Statements contained in this news release that are not historical facts are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same.
Yahoo
04-07-2025
- Business
- Yahoo
3 Reasons DCOM is Risky and 1 Stock to Buy Instead
Over the last six months, Dime Community Bancshares's shares have sunk to $28.65, producing a disappointing 8% loss - a stark contrast to the S&P 500's 5% gain. This was partly due to its softer quarterly results and might have investors contemplating their next move. Is there a buying opportunity in Dime Community Bancshares, or does it present a risk to your portfolio? Get the full stock story straight from our expert analysts, it's free. Even though the stock has become cheaper, we're sitting this one out for now. Here are three reasons why DCOM doesn't excite us and a stock we'd rather own. Long-term growth is the most important, but within financials, a stretched historical view may miss recent interest rate changes and market returns. Dime Community Bancshares's recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 10.2% over the last two years. Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business. Revenue is a fine reference point for banks, but net interest income and margin are better indicators of business quality for banks because they're balance sheet-driven businesses that leverage their assets to generate profits. Over the past two years, Dime Community Bancshares's net interest margin averaged 2.5%. Its margin also contracted by 51.7 basis points (100 basis points = 1 percentage point) over that period. This decline was a headwind for its net interest income. While prevailing rates are a major determinant of net interest margin changes over time, the decline could mean Dime Community Bancshares either faced competition for loans and deposits or experienced a negative mix shift in its balance sheet composition. While long-term earnings trends give us the big picture, we also track EPS over a shorter period because it can provide insight into an emerging theme or development for the business. Sadly for Dime Community Bancshares, its EPS declined by more than its revenue over the last two years, dropping 35%. This tells us the company struggled to adjust to shrinking demand. Dime Community Bancshares's business quality ultimately falls short of our standards. After the recent drawdown, the stock trades at 0.9× forward P/B (or $28.65 per share). Beauty is in the eye of the beholder, but we don't really see a big opportunity at the moment. We're fairly confident there are better investments elsewhere. We'd recommend looking at an all-weather company that owns household favorite Taco Bell. Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today.
Yahoo
01-07-2025
- Business
- Yahoo
After 160 years, a New York bank plans New Jersey expansion
A New York bank that has added dozens of bankers to its ranks in the past two years is now expanding beyond the Empire State for the first time. Dime Community Bancshares, based on Long Island in Hauppauge, plans to open a branch in Lakewood, New Jersey, early next year. Dime was founded in 1864, during the Civil War, and though the planned Lakewood location would be the $14.1 billion-asset company's first office outside of New York's boundaries, it likely won't be the last. CEO Stuart Lubow referred to Lakewood as a "jumping-off point." He told American Banker that Dime expects to open additional branches north of Lakewood, which sits in the central part of the state, Ocean County. Ultimately, Dime's ambition is to become more of a regional player, raising its profile in Westchester County and Upstate New York, as well as New Jersey. "I can see us continuing our growth within the New Jersey marketplace and also enhancing our [presence] in Westchester and the lower Hudson Valley," Lubow said Monday. Dime traces its roots to Brooklyn's Williamsburg neighborhood. Its banking subsidiary, Dime Community Bank, was founded as a mutual savings bank to serve Brooklyn's immigrant population. In the decades leading up to the turn of the 21st Century, Dime thrived as a multifamily lender. But over the past 10 years, the company has been engaged in a determined effort to refashion itself into a commercial lender that serves small and mid-size businesses. The transformation has been accelerated by Dime's recent hiring spree, which has seen it establish several new commercial-lending verticals, including health care banking, fund finance and not-for-profit banking. Between the end of 2018 and March 31, 2025, Dime more than doubled the percentage of business loans on its books to $2.8 billion, or more than 25% of its total loans and leases. Dime's increased employee count has also sparked substantial growth in deposits, which increased 9% to $11.5 billion in the two years ending March 31. "Those teams we brought on have performed exceedingly well," Lubow said. "Our pipelines are very strong, both on the deposit and loan side." Dime's economic outlook is "cautiously optimistic," Lubow said. "There' a lot of things going on. I think generally businesses are adapting to any changes and are relatively [hopeful]." In a June 17 report, Kroll Bond Rating Agency upgraded its ratings outlook for Dime from stable to positive, pointing to the company's credit quality and recent deposit growth. "Altogether, given the anticipated core deposit growth, Dime is expected to reflect an enhanced funding and liquidity profile that will position it well to execute its strategic shift in the loan portfolio," Kroll stated. Dime still maintains a significant portfolio of multifamily loans, but Kroll argued that the quality of its tenant mix, including a sizable component in the medical field, offers hope Dime's book can outperform the broader sector, which continues to experience stress. For its part, Dime is focused on getting its New Jersey expansion off to a strong start in Lakewood, according to Lubow, who has helmed the company since 2023. "Right now, our focus is going to be on getting Lakewood open and the New Jersey market. But if opportunities arise, we're certainly going to take advantage of them," he said. Lubow, who was raised near Lakewood and worked in the region as an executive prior to joining Dime in 2017, said the market has undergone a marked change over the past decade, as its commercial business base has expanded. "There's more commercial business that's moved into the suburban environment," Lubow said. "Where before, there was basically New York City and the immediate surroundings as the hub for commercial businesses, [now] they've really moved and spread out. … It's diversified the opportunities in suburban markets."Lakewood's population totaled 141,000 in 2024, up 5% from 2020, according to the U.S. Census Bureau. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Zawya
26-06-2025
- Business
- Zawya
New York banks, REITs fall as Mamdani's mayoral lead stokes rent freeze worries
Shares of several New York-based banks and real estate investment trusts fell on Wednesday as Zohran Mamdani's lead in New York City's Democratic mayoral primary stoked concerns that his proposed rent freeze could pressure building owners. On the campaign trail, Mamdani, a 33-year-old state lawmaker and self-described democratic socialist, vowed to lower costs for New Yorkers as a mayor by freezing the rent for all rent-stabilized apartments. Wall Street analysts have warned that the move could hurt building owners already grappling with higher costs, as constraints on their ability to raise rents might make it more difficult for some to repay their debt. "Politicians continue to march down a perilous path for rent-regulated multi-family with allowable rent increases lagging expense growth," brokerage Stephens said. The real estate sector has already been reeling under pressure as higher interest rates strained borrowers while the post-pandemic adoption of remote working left office buildings vacant. While Mamdani's proposals could face budgetary constraints and opposition from industry participants, banks in New York City could remain under pressure in the near-term, BofA analysts said last week. Shares of Flagstar Financial and Dime Community Bancshares fell 5% and 4%, respectively, while Flushing Financial was down 3%. Flagstar and Dime Community have a heavy exposure to rent-regulated multi-family in New York, according to analysts. Among New York-exposed REITs, SL Green Realty and Vornado Realty Trust fell 5% each. Equity Residential and Empire State Realty Trust fell 3% and 4%, respectively. LXP Industrial Trust was down 2.5%. However, while Mamdani's proposals have rattled investors, some analysts said the immediate risks may be limited. Analysts at Citi said the concerns stirred by his sweeping "freeze the rent" campaign promise could bring forward incremental credit concerns, but the actual fundamental impact on banks is likely to be minimal in the short to medium term.
