Equities analysts expect that Flushing Financial Co. (NASDAQ:FFIC) will post earnings of $0.40 per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Flushing Financial’s earnings. Flushing Financial reported earnings of $0.39 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.6%. The firm is expected to report its next earnings results on Tuesday, July 25th.
On average, analysts expect that Flushing Financial will report full year earnings of $1.65 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.70. For the next financial year, analysts expect that the company will post earnings of $1.78 per share, with EPS estimates ranging from $1.70 to $1.85. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Flushing Financial.
Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.08. The company had revenue of $47.08 million for the quarter, compared to analyst estimates of $45.37 million. Flushing Financial had a net margin of 23.31% and a return on equity of 8.71%. During the same period in the prior year, the firm earned $0.40 earnings per share.
A number of brokerages recently issued reports on FFIC. ValuEngine upgraded Flushing Financial from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Flushing Financial from a “hold” rating to a “strong-buy” rating and set a $34.00 price objective on the stock in a research note on Monday, May 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial in a research note on Tuesday, May 2nd. Finally, Sandler O’Neill upgraded Flushing Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.75.
Shares of Flushing Financial (NASDAQ:FFIC) traded up 0.72% during trading on Wednesday, hitting $27.84. 52,376 shares of the stock traded hands. The stock has a 50 day moving average price of $28.54 and a 200-day moving average price of $27.93. The stock has a market cap of $807.86 million, a price-to-earnings ratio of 11.94 and a beta of 1.03. Flushing Financial has a 1-year low of $18.95 and a 1-year high of $31.96.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Monday, June 12th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, June 8th. Flushing Financial’s dividend payout ratio is presently 30.22%.
In other news, Director James Davison Bennett sold 6,000 shares of the company’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $27.06, for a total transaction of $162,360.00. Following the sale, the director now directly owns 77,113 shares in the company, valued at $2,086,677.78. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Maria A. Grasso sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $26.77, for a total value of $107,080.00. Following the sale, the chief operating officer now owns 74,223 shares in the company, valued at $1,986,949.71. The disclosure for this sale can be found here. Corporate insiders own 5.85% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP boosted its stake in shares of Flushing Financial by 0.9% in the first quarter. Wellington Management Group LLP now owns 2,537,197 shares of the bank’s stock valued at $68,175,000 after buying an additional 23,725 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Flushing Financial by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,414,907 shares of the bank’s stock valued at $64,889,000 after buying an additional 71,447 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Flushing Financial by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,237,747 shares of the bank’s stock valued at $60,129,000 after buying an additional 55,447 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Flushing Financial by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock valued at $35,554,000 after buying an additional 44,975 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in shares of Flushing Financial by 1.2% in the first quarter. Gamco Investors INC. ET AL now owns 1,054,152 shares of the bank’s stock valued at $28,325,000 after buying an additional 12,252 shares during the last quarter. Hedge funds and other institutional investors own 78.61% of the company’s stock.
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About Flushing Financial
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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