FY2024 EPS Forecast for Flushing Financial Lifted by Analyst

Flushing Financial Co. (NASDAQ:FFIC) – Analysts at DA Davidson upped their FY2024 EPS estimates for Flushing Financial in a report issued on Thursday, December 19th. DA Davidson analyst M. Navas now forecasts that the bank will post earnings per share of $0.79 for the year, up from their prior estimate of $0.78. The consensus estimate for Flushing Financial’s current full-year earnings is $0.77 per share. DA Davidson also issued estimates for Flushing Financial’s Q4 2024 earnings at $0.20 EPS and FY2025 earnings at $1.35 EPS.

Separately, StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Flushing Financial has an average rating of “Hold” and an average target price of $15.50.

Flushing Financial Stock Up 0.1 %

Shares of NASDAQ FFIC opened at $14.26 on Friday. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.59. The stock’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $14.67. The stock has a market capitalization of $479.98 million, a PE ratio of 16.39 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27.

Hedge Funds Weigh In On Flushing Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FFIC. Barclays PLC increased its holdings in shares of Flushing Financial by 56.8% in the third quarter. Barclays PLC now owns 51,833 shares of the bank’s stock valued at $756,000 after purchasing an additional 18,773 shares during the period. Geode Capital Management LLC increased its holdings in Flushing Financial by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 694,216 shares of the bank’s stock worth $10,124,000 after buying an additional 5,128 shares during the period. Jane Street Group LLC raised its position in Flushing Financial by 14.5% during the 3rd quarter. Jane Street Group LLC now owns 58,821 shares of the bank’s stock worth $858,000 after buying an additional 7,467 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in Flushing Financial during the 3rd quarter valued at approximately $171,000. Finally, Verition Fund Management LLC purchased a new stake in shares of Flushing Financial in the 3rd quarter valued at $4,936,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Insider Transactions at Flushing Financial

In related news, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the transaction, the director now directly owns 67,251 shares of the company’s stock, valued at $1,040,372.97. This trade represents a 12.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Astrid Burrowes sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total transaction of $129,520.00. Following the sale, the chief accounting officer now directly owns 34,853 shares in the company, valued at approximately $564,270.07. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.31% of the company’s stock.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date of this dividend was Friday, December 6th. Flushing Financial’s payout ratio is presently 101.15%.

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.