Wall Street analysts expect Flushing Financial Co. (NASDAQ:FFIC) to post earnings per share of $0.42 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Flushing Financial’s earnings. Flushing Financial posted earnings of $0.40 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 5%. The company is scheduled to announce its next 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 anticipate 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 EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Flushing Financial.
Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, October 31st. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.07). The business had revenue of $44.70 million for the quarter. Flushing Financial had a return on equity of 9.04% and a net margin of 19.50%.
A number of brokerages have commented on FFIC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial in a research report on Sunday, October 8th. Zacks Investment Research raised shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Tuesday, September 19th. Sandler O’Neill downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Thursday, November 30th. They noted that the move was a valuation call. ValuEngine raised shares of Flushing Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $28.00 price objective on shares of Flushing Financial in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $30.25.
Flushing Financial (NASDAQ:FFIC) traded up $0.01 during trading on Tuesday, reaching $28.84. 30,760 shares of the company’s stock were exchanged, compared to its average volume of 46,544. Flushing Financial has a 12 month low of $24.27 and a 12 month 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 firm has a market cap of $800.04, a price-to-earnings ratio of 16.87, a PEG ratio of 1.53 and a beta of 1.07.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 8th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, December 7th. Flushing Financial’s dividend payout ratio is presently 42.11%.
In related news, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.93, for a total value of $144,650.00. Following the transaction, the director now directly owns 41,066 shares of the company’s stock, valued at approximately $1,188,039.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John E. Sr Roe, Sr. sold 3,629 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $26.98, for a total transaction of $97,910.42. Following the completion of the transaction, the director now directly 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 three months, insiders sold 16,058 shares of company stock worth $443,589. Insiders own 4.86% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FFIC. State Street Corp grew its position in shares of Flushing Financial by 13.3% in the 2nd quarter. State Street Corp now owns 593,185 shares of the bank’s stock valued at $16,725,000 after buying an additional 69,666 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Flushing Financial by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 1,365,993 shares of the bank’s stock valued at $38,507,000 after buying an additional 42,787 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Flushing Financial by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,280,201 shares of the bank’s stock valued at $64,279,000 after buying an additional 42,454 shares during the last quarter. Gamco Investors INC. ET AL grew its position in shares of Flushing Financial by 4.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,096,946 shares of the bank’s stock valued at $32,601,000 after buying an additional 41,994 shares during the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Flushing Financial by 9.3% in the 3rd quarter. Macquarie Group Ltd. now owns 492,883 shares of the bank’s stock valued at $14,649,000 after buying an additional 41,965 shares during the last quarter. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
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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