DA Davidson Has Bullish Forecast for FFIC FY2024 Earnings

Flushing Financial Co. (NASDAQ:FFIC) – Equities research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Flushing Financial in a note issued to investors on Thursday, November 7th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $0.78 for the year, up from their previous forecast of $0.70. The consensus estimate for Flushing Financial’s current full-year earnings is $0.75 per share. DA Davidson also issued estimates for Flushing Financial’s Q4 2024 earnings at $0.19 EPS.

A number of other analysts have also recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. StockNews.com upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research report on Thursday. Raymond James lifted their price objective on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler cut shares of Flushing Financial from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $15.00 to $16.50 in a research report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Flushing Financial currently has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Price Performance

FFIC opened at $17.49 on Friday. The company has a quick ratio of 1.01, a current ratio of 0.94 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average price is $14.79 and its 200 day moving average price is $13.73. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.19. The firm has a market cap of $508.43 million, a price-to-earnings ratio of 20.10 and a beta of 0.75.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend was Friday, September 6th. Flushing Financial’s payout ratio is currently 101.15%.

Insider Activity at Flushing Financial

In other news, COO Maria A. Grasso sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the completion of the sale, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at approximately $1,122,880.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Maria A. Grasso sold 4,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total value of $60,705.00. Following the sale, the chief operating officer now owns 83,238 shares of the company’s stock, valued at approximately $1,122,880.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sam Sang Ki Han sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at $1,040,372.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,500 shares of company stock worth $344,925 in the last 90 days. Corporate insiders own 6.31% of the company’s stock.

Institutional Trading of Flushing Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in FFIC. Quest Partners LLC increased its holdings in shares of Flushing Financial by 123.5% in the third quarter. Quest Partners LLC now owns 27,383 shares of the bank’s stock valued at $399,000 after buying an additional 15,129 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Flushing Financial by 5.4% during the third quarter. Empowered Funds LLC now owns 92,312 shares of the bank’s stock valued at $1,346,000 after purchasing an additional 4,690 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Flushing Financial by 59.3% in the 3rd quarter. GSA Capital Partners LLP now owns 107,142 shares of the bank’s stock valued at $1,562,000 after purchasing an additional 39,872 shares during the period. EMC Capital Management increased its stake in Flushing Financial by 163.0% in the 3rd quarter. EMC Capital Management now owns 22,904 shares of the bank’s stock worth $334,000 after purchasing an additional 14,195 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Flushing Financial by 4,000.0% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock worth $30,000 after buying an additional 2,000 shares during the period. 67.10% of the stock is owned by institutional investors and hedge funds.

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.