Equities Analysts Offer Predictions for Flushing Financial Co.’s Q2 2024 Earnings (NASDAQ:FFIC)

Flushing Financial Co. (NASDAQ:FFIC) – Equities research analysts at DA Davidson issued their Q2 2024 earnings estimates for 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 objective 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.

A number of other research firms have also weighed in on FFIC. Keefe, Bruyette & Woods dropped their price objective 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 downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th.

Flushing Financial Price Performance

Shares of FFIC opened at $12.15 on Monday. The stock has a market cap of $353.20 million, a P/E ratio of 12.15 and a beta of 0.75. The business’s fifty day moving average is $12.03 and its 200 day moving average is $13.77. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. Flushing Financial has a 12-month low of $9.28 and a 12-month high of $18.00.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIC. BNP Paribas Financial Markets raised its holdings in shares of Flushing Financial by 58.7% in the 1st quarter. BNP Paribas Financial Markets now owns 36,853 shares of the bank’s stock worth $465,000 after purchasing an additional 13,636 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Flushing Financial in the first quarter worth $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Flushing Financial in the first quarter valued at $27,000. Assenagon Asset Management S.A. lifted its position in shares of Flushing Financial by 290.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 114,404 shares of the bank’s stock valued at $1,443,000 after buying an additional 85,139 shares during the last quarter. Finally, Mendon Capital Advisors Corp bought a new position in shares of Flushing Financial during the 4th quarter worth $287,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Flushing Financial

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

Flushing Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were issued a $0.22 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.88 annualized dividend and a dividend yield of 7.24%. Flushing Financial’s dividend payout ratio is currently 88.00%.

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.