Flushing Financial Co. Forecasted to Earn Q4 2018 Earnings of $0.47 Per Share (FFIC)

Flushing Financial Co. (NASDAQ:FFIC) – Equities research analysts at Piper Jaffray Companies cut their Q4 2018 earnings estimates for Flushing Financial in a note issued to investors on Friday, November 2nd. Piper Jaffray Companies analyst M. Breese now anticipates that the bank will post earnings of $0.47 per share for the quarter, down from their prior forecast of $0.48. Piper Jaffray Companies also issued estimates for Flushing Financial’s Q1 2019 earnings at $0.39 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.43 EPS, FY2019 earnings at $1.68 EPS, Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.44 EPS and FY2020 earnings at $1.70 EPS.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.06. The company had revenue of $46.48 million for the quarter, compared to analysts’ expectations of $44.70 million. Flushing Financial had a return on equity of 9.30% and a net margin of 18.44%.

A number of other equities research analysts have also recently issued reports on the company. BidaskClub upgraded Flushing Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 6th. Sandler O’Neill reiterated a “buy” rating and issued a $30.00 target price on shares of Flushing Financial in a research note on Thursday, July 26th. ValuEngine cut Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, Zacks Investment Research cut Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.10.

FFIC stock opened at $22.94 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.32. The firm has a market capitalization of $649.09 million, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.10 and a beta of 0.90. Flushing Financial has a 1 year low of $20.34 and a 1 year high of $29.81.

Several institutional investors and hedge funds have recently modified their holdings of FFIC. SG Americas Securities LLC acquired a new position in shares of Flushing Financial during the second quarter valued at $176,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Flushing Financial during the first quarter valued at $272,000. Legal & General Group Plc increased its holdings in shares of Flushing Financial by 37.3% during the first quarter. Legal & General Group Plc now owns 14,357 shares of the bank’s stock valued at $387,000 after purchasing an additional 3,899 shares during the period. Citadel Advisors LLC increased its holdings in shares of Flushing Financial by 56.6% during the second quarter. Citadel Advisors LLC now owns 19,421 shares of the bank’s stock valued at $506,000 after purchasing an additional 7,016 shares during the period. Finally, GSA Capital Partners LLP increased its holdings in shares of Flushing Financial by 38.0% during the second quarter. GSA Capital Partners LLP now owns 27,701 shares of the bank’s stock valued at $723,000 after purchasing an additional 7,635 shares during the period. 76.50% of the stock is currently owned by institutional investors.

Flushing Financial Company Profile

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.

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Earnings History and Estimates for Flushing Financial (NASDAQ:FFIC)

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