DA Davidson Lifts Earnings Estimates for Flushing Financial

by · The Markets Daily

Flushing Financial Co. (NASDAQ:FFIC – Free Report) – Research analysts at DA Davidson raised their FY2024 earnings per share estimates for Flushing Financial in a report released on Thursday, November 7th. DA Davidson analyst M. Navas now anticipates that the bank will post earnings of $0.78 per share for the year, up from their prior 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.

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

Get Our Latest Analysis on FFIC

Flushing Financial Trading Down 5.3 %

Shares of NASDAQ FFIC opened at $17.08 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.19. The stock has a market capitalization of $496.52 million, a PE ratio of 19.63 and a beta of 0.75. The stock has a fifty day simple moving average of $14.73 and a 200-day simple moving average of $13.68.

Hedge Funds Weigh In On Flushing Financial

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

Insider Buying and Selling at Flushing Financial

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

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.15%. Flushing Financial’s payout ratio is 101.15%.

Flushing Financial Company Profile

(Get Free Report)

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.

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