DA Davidson Boosts Earnings Estimates for Flushing Financial

Flushing Financial Co. (NASDAQ:FFIC) – Investment analysts at DA Davidson increased their FY2024 EPS estimates for Flushing Financial in a research note issued to investors on Thursday, December 19th. DA Davidson analyst M. Navas now expects that the bank will post earnings per share of $0.79 for the year, up from their previous 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 shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Flushing Financial has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Stock Up 0.1 %

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

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders 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 yield of 6.17%. The ex-dividend date was Friday, December 6th. Flushing Financial’s dividend payout ratio (DPR) is 101.15%.

Insider Activity

In other news, CAO Astrid Burrowes sold 8,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $154,700.00. Following the transaction, the director now owns 67,251 shares of the company’s stock, valued at approximately $1,040,372.97. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.31% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC grew its stake in 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 acquiring an additional 2,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Flushing Financial in the second quarter worth approximately $61,000. FMR LLC grew its stake in Flushing Financial by 64.1% in the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after purchasing an additional 2,836 shares in the last quarter. Perritt Capital Management Inc purchased a new position in Flushing Financial during the 2nd quarter worth $132,000. Finally, Princeton Capital Management LLC bought a new stake in Flushing Financial during the 2nd quarter valued at $145,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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.