Flushing Financial Corporation (FFIC) Expected to Post Earnings of $0.44 Per Share
Brokerages expect Flushing Financial Corporation (NASDAQ:FFIC) to announce earnings per share of $0.44 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Flushing Financial Corporation’s earnings. Flushing Financial Corporation reported earnings of $0.39 per share in the same quarter last year, which would suggest a positive year over year growth rate of 12.8%. The firm is scheduled to report its next quarterly earnings results after the market closes on Tuesday, October 31st.
On average, analysts expect that Flushing Financial Corporation will report full year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.73 to $1.75. For the next financial year, analysts anticipate that the business will post earnings of $1.82 per share, with EPS estimates ranging from $1.78 to $1.85. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that cover Flushing Financial Corporation.
FFIC has been the subject of a number of recent research reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, September 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial Corporation in a report on Sunday, October 8th. Finally, BidaskClub upgraded shares of Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Flushing Financial Corporation currently has an average rating of “Hold” and an average target price of $30.33.
In other Flushing Financial Corporation news, Director Donna M. Obrien sold 3,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.33, for a total transaction of $81,990.00. Following the completion of the sale, the director now directly owns 50,925 shares in the company, valued at $1,391,780.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc boosted its holdings in Flushing Financial Corporation by 2.0% during the second quarter. Legal & General Group Plc now owns 10,446 shares of the bank’s stock valued at $295,000 after acquiring an additional 207 shares during the period. Wells Fargo & Company MN boosted its holdings in Flushing Financial Corporation by 0.8% during the second quarter. Wells Fargo & Company MN now owns 30,381 shares of the bank’s stock valued at $857,000 after acquiring an additional 230 shares during the period. Schroder Investment Management Group boosted its holdings in Flushing Financial Corporation by 2.4% during the second quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after acquiring an additional 233 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Flushing Financial Corporation by 0.8% during the second quarter. TIAA CREF Investment Management LLC now owns 100,927 shares of the bank’s stock valued at $2,845,000 after acquiring an additional 785 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in Flushing Financial Corporation by 5.7% during the second quarter. Voya Investment Management LLC now owns 18,661 shares of the bank’s stock valued at $526,000 after acquiring an additional 1,001 shares during the period. Institutional investors own 77.37% of the company’s stock.
Flushing Financial Corporation (FFIC) opened at 31.25 on Friday. The stock has a market capitalization of $910.47 million, a price-to-earnings ratio of 18.19 and a beta of 1.11. Flushing Financial Corporation has a 52-week low of $21.25 and a 52-week high of $31.96. The firm has a 50-day moving average price of $29.60 and a 200 day moving average price of $28.48.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, September 7th. Flushing Financial Corporation’s dividend payout ratio (DPR) is 41.62%.
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About Flushing Financial Corporation
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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