Dime Community Bancshares (NASDAQ: DCOM) saw its stock surge 5.98% in intraday trading on Wednesday following the release of its robust fourth-quarter earnings report.
The company reported adjusted earnings per share (EPS) of $0.79, surpassing the analyst consensus estimate of $0.71. Revenue for the quarter reached a record $124 million, driven by strong growth in core deposits and business loans. The net interest margin also improved to 3.11%, up from 3.01% in the previous quarter.
Analysts highlighted the company's performance, with adjusted diluted EPS rising 29% on a linked-quarter basis. The stock's upward movement reflects investor confidence in Dime's ability to capitalize on loan repricing opportunities and maintain solid asset quality.