Flushing Financial Co. (NASDAQ:FFIC) to Post Q2 2024 Earnings of $0.17 Per Share, DA Davidson Forecasts

Flushing Financial Co. (NASDAQ:FFIC) – Investment analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Flushing Financial in a report issued on Friday, May 3rd. DA Davidson analyst M. Navas anticipates that the bank will post earnings of $0.17 per share for the quarter. DA Davidson has a “Neutral” rating and a $13.50 price target on the stock. The consensus estimate for Flushing Financial’s current full-year earnings is $0.71 per share. DA Davidson also issued estimates for Flushing Financial’s FY2025 earnings at $1.35 EPS.

Several other equities research analysts have also issued reports on the stock. Keefe, Bruyette & Woods lowered their price target on shares of Flushing Financial from $14.00 to $13.00 and set a “market perform” rating on the stock in a research note on Friday, April 26th. StockNews.com lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th.

Flushing Financial Trading Down 0.5 %

FFIC opened at $12.20 on Monday. The stock has a market capitalization of $354.65 million, a P/E ratio of 12.20 and a beta of 0.75. Flushing Financial has a 12 month low of $9.28 and a 12 month high of $18.00. The firm’s fifty day simple moving average is $12.01 and its 200 day simple moving average is $13.78. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.26.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $112.58 million during the quarter, compared to the consensus estimate of $47.12 million. Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. During the same period in the prior year, the firm posted $0.10 earnings per share.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, March 8th. This represents a $0.88 annualized dividend and a dividend yield of 7.21%. Flushing Financial’s dividend payout ratio is presently 88.00%.

Insider Transactions at Flushing Financial

In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the transaction, the executive vice president now directly owns 73,493 shares in the company, valued at approximately $926,746.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total value of $96,453.89. Following the transaction, the executive vice president now owns 73,493 shares in the company, valued at approximately $926,746.73. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the transaction, the executive vice president now owns 32,391 shares in the company, valued at approximately $427,885.11. The disclosure for this sale can be found here. 6.31% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Flushing Financial by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,565,212 shares of the bank’s stock valued at $20,551,000 after purchasing an additional 6,158 shares during the period. EMC Capital Management boosted its holdings in Flushing Financial by 116.7% in the 3rd quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock valued at $151,000 after purchasing an additional 6,189 shares during the period. Assenagon Asset Management S.A. bought a new stake in Flushing Financial in the 4th quarter valued at about $482,000. GSA Capital Partners LLP boosted its holdings in Flushing Financial by 130.4% in the 3rd quarter. GSA Capital Partners LLP now owns 57,956 shares of the bank’s stock valued at $761,000 after purchasing an additional 32,805 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in Flushing Financial by 1.1% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,158,402 shares of the bank’s stock valued at $15,210,000 after purchasing an additional 12,602 shares during the period. Institutional investors and hedge funds own 67.10% of the company’s stock.

About Flushing Financial

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. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.