DA Davidson Research Analysts Increase Earnings Estimates for Flushing Financial Co. (NASDAQ:FFIC)

by · The Cerbat Gem

Flushing Financial Co. (NASDAQ:FFIC – Free Report) – Stock analysts at DA Davidson raised their FY2024 EPS estimates for Flushing Financial in a research report issued on Tuesday, December 26th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $0.90 for the year, up from their previous estimate of $0.85. The consensus estimate for Flushing Financial’s current full-year earnings is $0.90 per share.

Flushing Financial (NASDAQ:FFIC – Get Free Report) last posted its quarterly earnings results on Tuesday, October 31st. The bank reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. Flushing Financial had a return on equity of 5.56% and a net margin of 8.58%. The business had revenue of $47.90 million for the quarter, compared to analysts’ expectations of $46.56 million.

Other analysts also recently issued reports about the company. Raymond James began coverage on Flushing Financial in a research note on Thursday, August 31st. They issued an “outperform” rating and a $17.00 price target for the company. StockNews.com began coverage on Flushing Financial in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Check Out Our Latest Stock Analysis on Flushing Financial

Flushing Financial Stock Down 0.9 %

FFIC opened at $17.08 on Thursday. Flushing Financial has a 1-year low of $9.28 and a 1-year high of $20.46. The stock’s fifty day simple moving average is $14.26 and its 200 day simple moving average is $13.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.50. The stock has a market cap of $493.44 million, a PE ratio of 15.25 and a beta of 0.74.

Institutional Trading of Flushing Financial

Several institutional investors and hedge funds have recently modified their holdings of FFIC. American Century Companies Inc. grew its position in Flushing Financial by 21.3% in the first quarter. American Century Companies Inc. now owns 48,836 shares of the bank’s stock valued at $1,091,000 after acquiring an additional 8,578 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Flushing Financial by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 16,344 shares of the bank’s stock valued at $365,000 after purchasing an additional 5,934 shares during the last quarter. BlackRock Inc. increased its position in Flushing Financial by 3.9% during the 1st quarter. BlackRock Inc. now owns 2,480,912 shares of the bank’s stock worth $55,449,000 after purchasing an additional 92,800 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in Flushing Financial by 29.7% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,740 shares of the bank’s stock valued at $64,000 after purchasing an additional 628 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Flushing Financial by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,330,027 shares of the bank’s stock valued at $52,077,000 after buying an additional 56,474 shares in the last quarter. 62.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Flushing Financial news, Director Steven J. Diorio sold 6,500 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.42, for a total transaction of $106,730.00. Following the transaction, the director now owns 47,000 shares in the company, valued at approximately $771,740. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Flushing Financial news, Director Steven J. Diorio sold 6,500 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.42, for a total transaction of $106,730.00. Following the transaction, the director now owns 47,000 shares in the company, valued at approximately $771,740. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Maria A. Grasso sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $14.20, for a total value of $56,800.00. Following the transaction, the chief operating officer now owns 79,726 shares in the company, valued at approximately $1,132,109.20. The disclosure for this sale can be found here. Corporate insiders own 6.60% of the company’s stock.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $0.88 dividend on an annualized basis and a yield of 5.15%. Flushing Financial’s dividend payout ratio (DPR) is presently 78.57%.

Flushing Financial Company Profile

(Get Free Report)

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, demand accounts, NOW accounts, and certificates of deposit.

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