Flushing Financial (FFIC) to Release Earnings on Tuesday

Flushing Financial (NASDAQ:FFIC) is set to post its quarterly earnings results after the market closes on Tuesday, April 23rd. Analysts expect Flushing Financial to post earnings of $0.15 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.25 EPS for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $53.49 million for the quarter, compared to the consensus estimate of $48.84 million. Flushing Financial had a return on equity of 4.11% and a net margin of 7.37%. On average, analysts expect Flushing Financial to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Flushing Financial Stock Performance

FFIC opened at $11.09 on Tuesday. The stock’s fifty day moving average is $12.52 and its two-hundred day moving average is $13.88. The company has a market capitalization of $322.39 million, a P/E ratio of 10.56 and a beta of 0.73. Flushing Financial has a 52 week low of $9.28 and a 52 week high of $18.00. 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 Announces Dividend

The business also recently declared 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 of this dividend was Friday, March 8th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.94%. Flushing Financial’s dividend payout ratio is presently 83.81%.

Insider Transactions at Flushing Financial

In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares of the company’s stock, valued at approximately $427,885.11. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the transaction, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas Buonaiuto sold 19,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the transaction, the executive vice president now directly owns 32,391 shares of the company’s stock, valued at approximately $427,885.11. The disclosure for this sale can be found here. Insiders own 5.54% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Flushing Financial by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,603,497 shares of the bank’s stock valued at $26,426,000 after buying an additional 38,285 shares during the period. Barclays PLC increased its stake in shares of Flushing Financial by 60.2% in the 4th quarter. Barclays PLC now owns 55,726 shares of the bank’s stock valued at $919,000 after purchasing an additional 20,944 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Flushing Financial by 7.5% in the 4th quarter. Nuveen Asset Management LLC now owns 89,001 shares of the bank’s stock valued at $1,467,000 after purchasing an additional 6,190 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in shares of Flushing Financial in the 4th quarter valued at about $169,000. Finally, Gamco Investors INC. ET AL increased its stake in shares of Flushing Financial by 3.4% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,197,965 shares of the bank’s stock valued at $19,742,000 after purchasing an additional 39,563 shares in the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FFIC. DA Davidson cut their price target on Flushing Financial from $17.00 to $13.50 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Keefe, Bruyette & Woods cut their price target on Flushing Financial from $15.50 to $14.00 and set a “market perform” rating on the stock in a report on Friday, April 5th. Finally, Raymond James lifted their price target on Flushing Financial from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.50.

Flushing Financial Company Profile

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.