DA Davidson Has Bullish Forecast for FFIC FY2024 Earnings

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

Flushing Financial Price Performance

Flushing Financial stock opened at $14.25 on Friday. The firm has a market cap of $414.23 million, a P/E ratio of 16.38 and a beta of 0.78. The stock’s 50 day moving average is $16.52 and its 200 day moving average is $14.66. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.94 and a quick ratio of 0.94. Flushing Financial has a one year low of $10.74 and a one year high of $18.59.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FFIC. Nisa Investment Advisors LLC lifted its position 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 valued at $30,000 after acquiring an additional 2,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flushing Financial in the second quarter valued at approximately $61,000. FMR LLC boosted its position in shares of Flushing Financial by 64.1% during the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock valued at $106,000 after buying an additional 2,836 shares during the last quarter. Perritt Capital Management Inc purchased a new position in shares of Flushing Financial during the second quarter valued at approximately $132,000. Finally, Princeton Capital Management LLC bought a new stake in Flushing Financial during the second quarter worth $145,000. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Flushing Financial news, Director Sam Sang Ki Han sold 10,000 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was 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 in the company, valued at approximately $1,040,372.97. This represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $16.19, for a total value of $129,520.00. Following the sale, the chief accounting officer now owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. 6.31% of the stock is owned by insiders.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.22 per share. The ex-dividend date is Friday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.18%. 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.