Brokerages Expect Flushing Financial Co. (FFIC) to Post $0.42 Earnings Per Share
Analysts predict that Flushing Financial Co. (NASDAQ:FFIC) will report $0.42 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Flushing Financial’s earnings. Flushing Financial reported earnings of $0.40 per share in the same quarter last year, which suggests a positive year over year growth rate of 5%. The firm is expected to issue its next quarterly earnings report after the market closes on Tuesday, January 30th.
According to Zacks, analysts expect that Flushing Financial will report full-year earnings of $1.67 per share for the current year, with EPS estimates ranging from $1.63 to $1.70. For the next fiscal year, analysts expect that the firm will report earnings of $1.81 per share, with EPS estimates ranging from $1.72 to $1.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Flushing Financial.
Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, October 31st. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.07). Flushing Financial had a return on equity of 9.04% and a net margin of 19.50%. The firm had revenue of $44.70 million during the quarter.
In other news, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.93, for a total value of $144,650.00. Following the sale, the director now directly owns 41,066 shares in the company, valued at $1,188,039.38. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John E. Sr Roe, Sr. sold 3,629 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $26.98, for a total value of $97,910.42. Following the completion of the sale, the director now owns 66,434 shares in the company, valued at $1,792,389.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,058 shares of company stock worth $443,589. Company insiders own 4.86% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Legal & General Group Plc grew its stake in Flushing Financial by 2.0% in the second quarter. Legal & General Group Plc now owns 10,446 shares of the bank’s stock worth $295,000 after purchasing an additional 207 shares in the last quarter. Wells Fargo & Company MN grew its stake in Flushing Financial by 0.8% in the second quarter. Wells Fargo & Company MN now owns 30,381 shares of the bank’s stock worth $857,000 after purchasing an additional 230 shares in the last quarter. Schroder Investment Management Group grew its stake in Flushing Financial by 2.4% in the second quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock worth $284,000 after purchasing an additional 233 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Flushing Financial by 0.8% in the second quarter. TIAA CREF Investment Management LLC now owns 100,927 shares of the bank’s stock worth $2,845,000 after purchasing an additional 785 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Flushing Financial by 5.7% in the second quarter. Voya Investment Management LLC now owns 18,661 shares of the bank’s stock worth $526,000 after purchasing an additional 1,001 shares in the last quarter. 77.36% of the stock is currently owned by institutional investors.
Shares of Flushing Financial (NASDAQ:FFIC) traded down $0.09 during mid-day trading on Tuesday, reaching $27.67. The company’s stock had a trading volume of 26,900 shares, compared to its average volume of 49,340. Flushing Financial has a fifty-two week low of $24.27 and a fifty-two week high of $31.69. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market capitalization of $800.04, a P/E ratio of 16.18, a PEG ratio of 1.53 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Friday, December 8th were issued a $0.18 dividend. The ex-dividend date was Thursday, December 7th. This represents a $0.72 annualized dividend and a dividend yield of 2.60%. Flushing Financial’s payout ratio is 42.11%.
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Flushing Financial Company Profile
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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