Here are the stocks added to the Zacks #1 Rank ("strong buy") List today:

• Acadia Realty Trust (AKR)
• Atlantic Tele-Network Inc (ATNI)
• Bare Escentuals Inc (BARE)
• Bancorp Rhode Island Inc (BARI)
• Cia Siderurgica Nacional SA (SID)
• Clearwater Paper Corp (CLW)
• Conexant Systems Inc (CNXT)
• Dime Community Bancshares (DCOM)
• Domtar Corp (UFS)
• Drew Industries Inc (DW)
• Duncan Energy Partners LP (DEP)
• Eaton Vance Corp (EV)
• Expedia Inc (EXPE)
• Harris Corp (HRS)
• Ingram Micro Inc (IM)
• Innospec Inc (IOSP)
• Integrated Silicon Solution Inc (ISSI)
• KLA-Tencor Corp (KLAC)
• Lancaster Colony Corp (LANC)
• MDU Resources Group Inc (MDU)
• Mellanox Technologies Ltd (MLNX)
• Merck KGaA (MKGAF)
• MicroStrategy Inc (MSTR)
• National Australia Bank Ltd (NABZY)
• Owens Corning (OC)
• Oxford Industries Inc (OXM)
• Penske Auto Group Inc (PAG)
• Perrigo Co (PRGO)
• PolyOne Corp (POL)
• STEC Inc (STEC)
• Steiner Leisure Ltd (STNR)
• Syntel Inc (SYNT)
• Tiffany & Co (TIF)
• Timberland Co (TBL)
• Travelers Cos Inc (TRV)
• Unitrin Inc (UTR)
• Universal American Corp (UAM)
• Universal Health Services Inc (UHS)
• WD-40 Co (WDFC)

View the entire Zacks #1 Rank List
"AKR" Free Stock Analysis: Buy? Sell? Hold?
"ATNI" Free Stock Analysis: Buy? Sell? Hold?
"BARE" Free Stock Analysis: Buy? Sell? Hold?
"BARI" Free Stock Analysis: Buy? Sell? Hold?
"SID" Free Stock Analysis: Buy? Sell? Hold?
"CLW" Free Stock Analysis: Buy? Sell? Hold?
"CNXT" Free Stock Analysis: Buy? Sell? Hold?
"DCOM" Free Stock Analysis: Buy? Sell? Hold?
"UFS" Free Stock Analysis: Buy? Sell? Hold?
"DW" Free Stock Analysis: Buy? Sell? Hold?
"DEP" Free Stock Analysis: Buy? Sell? Hold?
"EV" Free Stock Analysis: Buy? Sell? Hold?
"EXPE" Free Stock Analysis: Buy? Sell? Hold?
"HRS" Free Stock Analysis: Buy? Sell? Hold?
"IM" Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

<font>   <font> Dime Community Bancshares, Inc. Announces Estimated Earnings for theJune 2009 Quarter </font>
<font>     Monday, July 13, 2009 5:30:26 PM ET </font> </font>

<font> Dime Community Bancshares, Inc. ( DCOM ) (the "Company"), the parent company of The Dime Savings Bank of Williamsburgh ("Dime"), today estimated consolidated net income of $6.9 million, or 21 cents per diluted share, for the quarter ended June 30, 2009, compared to $2.9 million, or 9 cents per diluted share, for the quarter ended March 31, 2009 and $8.4 million, or 26 cents per diluted share, for the quarter ended June 30, 2008. </font>

<font> Upcoming Events </font>

<font> Beginning this month, the Company will be making several presentations both to investors and at financial investor conferences. In order to facilitate the timely discussion of financial information and business conditions during those meetings, the Company is issuing this pre-release of certain of its financial and credit performance highlights. </font>

<font> Core Earnings </font>

<font> For the current quarter, the Company’s earnings reflect an after-tax other-than temporary impairment ("OTTI") charge of approximately $486,000, or $0.01 per share. During the quarter ended March 31, 2009, the Company’s earnings reflected an after-tax OTTI charge of $3.1 million, or $0.08 per share. During the quarter ended June 30, 2008, the Company recorded a non-recurring adjustment to income tax expense, which added $590,000 to earnings after-tax, or $0.02 per share. Core earnings per share, which excluded these OTTI charges and other significant non-recurring items, were $0.23, $0.17 and $0.24 for the quarters ended June 30, 2009, March 31, 2009 and June 30, 2008, respectively. </font>

<font> Credit Performance </font>

<font> Non-performing loans were approximately $12.9 million at June 30, 2009, $13.1 million at March 31, 2009, and $6.9 million at June 30, 2008. Approximately $16.9 million of loans were over 30 days delinquent as of June 30, 2009, compared to $19.1 million at March 31, 2009. At June 30, 2009, the ratio of non-performing loans to total loans approximated 0.40%, compared to a ratio of 0.40% at March 31, 2009. </font>

<font> According to Vincent F. Palagiano, Chairman and Chief Executive Officer, "In the current environment, management and the Board are gratified with the relative performance of the loan portfolio to date, and believe that this performance reflects the prudent underwriting standards consistently applied throughout this decade. However, we are not concluding that problems in the commercial real estate sector have reached their apex. Our expectation is that the accumulation of individual loan problems will not rise to a material level within our portfolio, regardless of conditions in the wider commercial real estate market, due to the preponderance of rent-regulated multifamily loans in the portfolio." Nonetheless, management will again guide to a $3 million quarterly provision for loan losses in its third quarter 2009 EPS guidance. By comparison, the Company incurred $4.1 million in credit costs (including provisions) in the first quarter of 2009, and approximately $2.3 million in the second quarter of 2009. </font>

<font> At June 30, 2009, the allowance for loan losses approximated $20.0 million, or about 155% of non-performing loans, compared to $18.4 million, or 140% of non-performing loans at March 31, 2009. </font>

<font> OTTI Charges </font>

<font> This quarter’s estimated after-tax OTTI charge of $486,000 reflects the fact that additional payment deferrals have occurred within the collateral pool underlying certain of the Bank’s eight trust preferred collateralized debt obligation securities. During the quarter, the Bank failed to receive a portion of the interest due on two of these securities having a cost basis of $3.3 million net of credit-related OTTI. The remaining six securities, with a total cost basis of $12.6 million net of credit-related OTTI, are current on all contractual obligations. </font>

<font> Net Interest Margin </font>

<font> Net interest margin was approximately 2.78% in the June 2009 quarter, up from 2.51% in the March 2009 quarter, and 2.67% in the June 2008 quarter. Net interest margin continues to benefit from the declining costs of repricing deposits, which we anticipate will continue to be the case through the remainder of the year. As announced previously, the Company is also taking advantage of the high liquidity component of the balance sheet to manage both its cost and mix (deposits and borrowings) of funding. </font>

<font> Capital </font>

<font> The Company continued to grow its consolidated ratio of tangible capital to tangible assets to approximately 6.00% as of June 30, 2009 from 5.83% as of March 31, 2009. </font>

<font> Loan Originations </font>

<font> Real estate loan originations totaled approximately $111.4 million during the quarter ended June 30, 2009 with an estimated weighted average rate of 6.08%, compared to originations of $83.7 million during the quarter ended March 31, 2009 at a weighted average rate of 6.21%. During the June 2009 quarter, the Bank sold an 80% participation in approximately $124 million of multifamily loans from its portfolio. The loans were sold at par and without recourse. This transaction settled on April 20, 2009 and the Bank recognized a mortgage servicing gain of approximately $635,000 on the sale (as a component of mortgage banking income), which was reflected in core earnings for the June 2009 quarter. The Bank retained servicing on all of the loans. At June 30, 2009 the loan commitment pipeline was approximately $136 million with an approximate weighted average rate of 5.80%. At March 31, 2009, the loan commitment pipeline was $70.3 million with a weighted average interest rate approximating 6.00%. </font>

<font> Full Release </font>

<font> The full earnings release containing management’s discussion and analysis of the Company’s second quarter performance, along with the third quarter earnings per share guidance, remains scheduled for release on Monday, July 27, 2009, prior to the opening of the markets in New York. </font>

<font> ABOUT DIME COMMUNITY BANCSHARES </font>

<font> The Company had approximately $4.0 billion in consolidated assets as of June 30, 2009, and is the parent company of Dime. Dime was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-three branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and Dime can be found on Dime’s Internet website at www.dime.com. </font>

  <font> Contact: 
 Kenneth Ceonzo 
 Director of Investor Relations 
 718-782-6200 extension 8279 
  
  
  </font>  

<font> SOURCE: Dime Community Bancshares, Inc. </font>

In today’s podcast (DOWNLOAD MP3 FILE) discussed whether U.S. stocks have really seen a bottom, the railroads, financial stocks, how quickly people forget bad times and other items found below. [More...]

The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.

The federal government is desperately seeking the perfect fiscal stimulus package to save America. The administration is frantically readying specifics for the State of the Union Address, and Congress busily meets to debate the topic this week. The Federal Reserve, meanwhile, attempts to use everything in its bag of tricks to restore confidence. Well, The Greek knows the perfect medicine to do the trick. Maria Bartiromo warms January every year as she traverses the Atlantic to cover the World Economic Forum in Davos, Switzerland. Heck, if she can melt snow in the Alps, then the Money Honey outta be able to stimulate the economy. Don't you just love Davos time?...

The best cure for the horror of a trading week we witnessed in that pitiful period just passed is a three-day weekend. Now, we kindly warn the faint-hearted to please leave the room as we recap the destruction. After a positive start to last week, the Dow Composite sank through the rest of the period. The Dow Jones Industrials moved 4% lower on the week, while the S&P 500 sank 5.4% and the Nasdaq fell 4.1%.

The troubles were not limited to U.S. shores though, with just about every major global market also sinking. Only Taiwan rose on the week, moving some 2.1% higher. Leading losers in Asia were the Philippines, down 9.5%, and Indonesia, down 8.6%. The important markets of India and Hong Kong fell 7.8% and 7.7%, respectively. Things weren’t much better in Europe, with Sweden doing best in losing just 3.2%. On the other end of the spectrum, Belgium and Norway lost 7.7% each. The DJ STOXX Index sank 4.7%.

In the states, all sectors sank except fixed income, where declining yields and increased demand drove bond prices higher. Still, fund money flows were positive except in the municipal bond space, where presumably the trouble brewing at MBIA ( NYSE: MBI) and trouble cooked already at Ambac ( NYSE: ABK) sent investors for the exits. Even gold gave back a little ground last week, after first topping $900 a troy ounce. Oil, its distillates and natural gas all gave back ground as well, while corn climbed on an increased government ethanol mandate and shorter ending stocks than were expected. Okay, you can come back into the room now, as we’ll shift from recent horror, to future hope.

Think positive...

Speculation about the likelihood and degree of fiscal stimulus will be front and center again this week, as Congressional committees in both branches of Capitol Hill meet to discuss just that. We here at The Greek believe the President’s idea to impact GDP by 1% or so with stimulus would be effective, and we also approve of the rumored $800 tax rebate check. That would prove meaningful to a heck of a lot of folks, and for those who might consider it just a pittance, it offers incentive to go buy something they’ve been coveting for awhile. Retailer shares reacted positively to the news. Also, the theoretical $1,600 bonus for married couples is precisely the shot in the arm the American household needs right now.

Apparently Democrats are more concerned about how we are going to pay for these desperately needed offerings, and John McCain on the Republican side also harped on the subject. I heard NY Democratic Senator Charles Schumer mouthing off about how much better increased government spending would be, over the proposed direct payout. How do you feel about that America? Would you rather the government decide where to spend this cash infusion, or do you think you might do better with that decision yourself? Feel free to comment using the “comment” link below this article.

Market-Moving Event Schedule:

Monday

U.S. markets are closed to honor the memory of Dr. Martin Luther King Jr. A handful of companies were still scheduled to report earnings on Monday though, including DST Systems ( NYSE: DST), Equity Lifestyle Properties ( NYSE: ELS), First Defiance Financial ( Nasdaq: FDEF), HDFC Bank ( NYSE: HDB), Innovex ( Nasdaq: INVX), Royal Phillips Electronics ( NYSE: PHG), S&T Bancorp ( Nasdaq: STBA) and Satyam Computer Services ( NYSE: SAY).

Tuesday

The Senate Finance Committee begins important discussion of fiscal stimulus. We hope the Committee gets things off on the right foot, and does not send a message to the market of a bogged down debate that could lead to a late impacting, future government aid package. Americans need that money now! We’ll get an indication of just how badly so, with the 10:00 a.m. release of State Street’s Investor Confidence Index.

Two important foreign central banks are scheduled to make announcements on Tuesday. The Bank of Canada is expected to cut its target rate by a quarter point as it weighs the near-term impact of a slowing American economy on its Republic. The Bank of Japan will end its two-day meeting on Tuesday, and is expected to announce that it will hold rates steady at 0.5%. It’s hard to envision any central bank raising rates now, outside of China where growth continues, but the ECB continues to raise the specter of inflation in its public discussions.

Barron’s reports that at some point this week China will announce its economic growth figures for the fourth quarter and the full year of 2007. This report, if it shows impact from U.S. softening, could set off the fire alarm in the world’s emerging markets. Up to this point, still high-flying Asian investors (relatively speaking) have only smelled what they think is smoke. With the U.S. flailing, pension fund flows have likely been increasing into emerging markets, helping to offset profit-taking impact and the global growth slowdown scare.

OPEC is scheduled to issue its monthly oil market report, where it should be all like, “I told you so hungry energy consuming world.” OPEC will likely point toward American economic weakness as good reason to keep production steady, or dare I say, even warn of potential production cuts. Hopefully, George Junior got a few good words in for us on his Mid-East trip last week.

Tuesday’s earnings schedule will be headlined by Apple ( Nasdaq: AAPL), Bank of America ( NYSE: BAC) and Wachovia ( NYSE: WB). Even the mighty have fallen, with Apple joining Monsanto ( NYSE: MON), Research in Motion ( Nasdaq: RIMM) and other recently strong shares in retracing ground recently. Apple seems set to report strongly, however, and the consensus of analysts expects EPS growth of 41%, to $1.62 from the company’s fiscal first quarter report.

Other notables on the schedule include Cree Inc. ( Nasdaq: CREE), CSX Corp. ( NYSE: CSX), DuPont ( NYSE: DD), Eaton ( NYSE: ETN), Fair Isaac ( NYSE: FIC), Fastenal ( Nasdaq: FAST), Fifth Third Bancorp. ( Nasdaq: FITB), Jacobs Engineering ( NYSE: JEC), Johnson & Johnson ( NYSE: JNJ), National City ( NYSE: NCC), PetMed Express ( Nasdaq: PETS), Plantronics ( NYSE: PLT), Precision Castparts ( NYSE: PCP), Regis Corp. ( NYSE: RGS), STMicroelectronics ( NYSE: STM), Suncor Energy ( NYSE: SU), Susquehanna Bancshares ( Nasdaq: SUSQ), Tellabs ( Nasdaq: TLAB), Texas Instruments ( NYSE: TXN), UAL Corp. ( Nasdaq: UAUA), UnitedHealth ( NYSE: UNH), Waters Corp. ( NYSE: WAT) and a bunch more.

Wednesday

The House Budget Committee picks up the baton from the Senate, when it commences its own debate regarding fiscal stimulus on Wednesday. The weekly Same-Store Sales Report from the ICSC-UBS is pushed back day for the holiday-shortened week. Recall, last week’s data showed a sharp drop in growth rate to 1.1%. With all indications that the consumer is softening, and is also now well aware of his own situation, you can expect further weakness in this figure.

The Mortgage Bankers Association’s Mortgage Applications Index should continue to show benefit from sharply lower interest rates. Yields have dropped precipitously on the flight to safety and expectations for a Fed rate action. The treasury market forecasts a 50 point cut at least, and is actually looking toward 75 points. Now that the Fed’s “transparency” has raised expectations, they can let us all down with action that is more likely to mirror their conservatism. If we don’t get 75 points in aggregate by the end of the month, I see my hope for near-term rally sharply damaged. The Greek continues to expect the Fed to follow up the President’s State of the Union introduced stimulus plan with a sharp cut at the regular January meeting. Sharp better mean 75 to 100 basis points though, and 50 to 75 seems more likely from this group...

It’s Davos time! Yes, it’s already that time of year when Maria Bartiromo gets to don her snow bunny outfit and board a plain to Switzerland to the World Economic Forum. While there, she will utter her favorite word (now ours as well), “Davos,” again and again. I must admit, it’s a turn on for The Greek! We love you Money Honey! Hopefully Switzerland will also be a turn on for the Greek national soccer club in June when it defends its European championship.

The EIA will report on Petroleum Status at its regular time, 10:30, but the market remains focused on the economic outlook and this week, on OPEC’s announcement. The Greek continues to see oil prices declining this year until Iran, so we would underweight energy. We outlined this view in our article, Sunset for Solar Stocks, in case you missed it.

Wednesday’s earnings schedule includes some of the market’s heavy hitters including Brinker International ( NYSE: EAT), Capital One Financial ( NYSE: COF), Coach ( NYSE: COH), ConocoPhillips ( NYSE: COP), Delta Airlines ( NYSE: DAL), eBay ( Nasdaq: EBAY), General Dynamics ( NYSE: GD), Kennametal ( NYSE: KMT), Motorola ( NYSE: MOT), Netflix ( Nasdaq: NFLX), Noble Corp. ( NYSE: NE), Piper Jaffray ( NYSE: PJC), Praxair ( NYSE: PX), QLogic ( Nasdaq: QLGC), Qualcomm ( Nasdaq: QCOM), Reinsurance Group of America ( NYSE: RGA), Rockwell Automation ( NYSE: ROK), Ryland Group ( NYSE: RYL), SLM Corp. ( NYSE: SLM), Southwest Airlines ( NYSE: LUV), Sovereign Bancorp ( NYSE: SOV), St. Jude Medical ( NYSE: STJ), Stryker ( NYSE: SYK), SunTrust ( NYSE: STI), Symantec ( Nasdaq: SYMC), Teradyne ( NYSE: TER), United Technologies ( NYSE: UTX), WellPoint ( NYSE: WLP) and many more.

Thursday

At 8:30, the market will be closely attuned to the Weekly Initial Jobless Claims Report from the Labor Department. The last few weeks have drifted well off the peaks of late December. Bloomberg’s consensus of economists is looking for new claims amounting to 321K for the week ended January 19. Last week’s reading measured 301K, but offered no relief to the market. The Greek continues to expect widening financial sector and retail/restaurant space layoffs to mount this year, driving unemployment well above the current 5.0%.

At 10:00 a.m., Existing Home Sales for December are seen at an annual run rate of 4.95 million. Last week’s Housing Starts Report showed they sank to lows not seen since 1991. We wouldn’t expect any positive surprise here either. What should start housing stocks higher is a 100 point move by the Fed... Otherwise, the gradual thinning of home inventory should do it by mid-year, despite rising foreclosure channel flow. The stocks will lead their market’s recovery, not visa versa.

The EIA’s Natural Gas Report is due at 10:30. The EIA’s own website indicates this report will be on Thursday, but in the past, long holiday weekends have led the group to push back reports a day. If that’s the case here, look for Petroleum Status Thursday and Natural Gas on Friday.

Get ready for a meaty earnings schedule on Thursday, including 1-800-FLOWERS.COM ( Nasdaq: FLWS), Ameriprise Financial ( NYSE: AMP), Amgen ( Nasdaq: AMGN), AT&T ( NYSE: T), Avnet ( NYSE: AVT), Ball Corp. ( NYSE: BLL), Baxter Int’l ( NYSE: BAX), Becton, Dickinson & Co. ( NYSE: BDX), Broadcom ( Nasdaq: BRCM), Cadence Financial ( Nasdaq: CADE), Cash America ( NYSE: CSH), Consolidated Edison ( NYSE: ED), Cooper Industries ( NYSE: CBE), Cypress Semiconductor ( NYSE: CY), Danaher ( NYSE: DHR), DeVry ( NYSE: DV), Dover Downs ( NYSE: DDE), E*Trade ( Nasdaq: ETFC), Fairchild Semi ( NYSE: FCS), Hartford Financial ( NYSE: HIG), Int’l Speedway ( Nasdaq: ISCA), Janus Capital ( NYSE: JNS), Kelly Services ( Nasdaq: KELYA), Kimberly Clark ( NYSE: KMB), KLA-Tencor ( Nasdaq: KLAC), Kulicke & Soffa ( Nasdaq: KLIC), Lam Research ( Nasdaq: LRCX), Leggett & Platt ( NYSE: LEG), Lennar Corp. ( NYSE: LEN), Lockheed Martin ( NYSE: LMT), Martek Biosciences ( Nasdaq: MATK), Mathews International ( Nasdaq: MATW), MEMC Electronics ( NYSE: WFR), Microsoft ( Nasdaq: MSFT), Nokia ( NYSE: NOK), PMC-Sierra ( Nasdaq: PMCS), Potash ( NYSE: POT), Rockwell Collins ( NYSE: COL), Steak ‘n Shake ( NYSE: SNS), Sun Microsystems ( Nasdaq: JAVA), SunPower ( Nasdaq: SPWR), Technitrol ( NYSE: TNL), Teledyne Tech ( NYSE: TDY), Textron ( NYSE: TXT), Hershey ( NYSE: HSY), McGraw Hill ( NYSE: MHP), US Airways ( NYSE: LCC), Xerox ( NYSE: XRX) and more.

Friday

There’s nothing on the slate outside of earnings news on Friday. Those reports include Caterpillar ( NYSE: CAT), Harley-Davidson ( NYSE: HOG), Idexx Laboratories ( Nasdaq: IDXX), Arkansas Best ( Nasdaq: ABFS), Concurrent Computer ( Nasdaq: CCUR), Delta Apparel ( NYSE: DLA), Dime Community Bancshares ( Nasdaq: DCOM), Dr. Reddy’s ( NYSE: RDY), FirstFed Financial ( NYSE: FED), Johnson Outdoors ( Nasdaq: JOUT), Kensey Nash ( Nasdaq: KNSY), KT Corp. ( NYSE: KTC), Lakeland Financial ( Nasdaq: LKFN), MB Financial ( Nasdaq: MBFI), MDU Resources ( NYSE: MDU), Midsouth Bancorp ( NYSE: MSL), Multi-Color Corp. ( Nasdaq: LABL), NuStar GP Holdings ( NYSE: NSH), Prosperity Bancshares ( Nasdaq: PRSP), Provident Bancorp ( Nasdaq: PBNY), W.W. Grainger ( NYSE: GWW) and Weatherford Int’l ( NYSE: WFT).

We hope you once again found value in our weekly market-moving event planner, and we look forward to providing your daily insight all week long at WallStreetGreek.com.

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