Flushing Financial Co. (NASDAQ:FFIC) – Piper Jaffray Companies upped their Q2 2019 earnings estimates for Flushing Financial in a note issued to investors on Monday, May 6th. Piper Jaffray Companies analyst M. Breese now forecasts that the bank will earn $0.45 per share for the quarter, up from their prior estimate of $0.43. Piper Jaffray Companies also issued estimates for Flushing Financial’s Q3 2019 earnings at $0.44 EPS, Q4 2019 earnings at $0.45 EPS, FY2019 earnings at $1.66 EPS, Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.49 EPS and FY2020 earnings at $1.75 EPS.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 30th. The bank reported $0.33 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.06). The firm had revenue of $42.75 million during the quarter, compared to analyst estimates of $43.70 million. Flushing Financial had a return on equity of 10.00% and a net margin of 18.51%.
FFIC has been the subject of several other research reports. Zacks Investment Research upgraded Flushing Financial from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Monday, February 4th. ValuEngine lowered Flushing Financial from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, BidaskClub lowered Flushing Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $27.50.
Shares of FFIC opened at $22.55 on Wednesday. The company has a market capitalization of $647.46 million, a PE ratio of 11.62, a PEG ratio of 3.33 and a beta of 0.86. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 2.28. Flushing Financial has a 52 week low of $20.27 and a 52 week high of $27.91.
A number of institutional investors have recently made changes to their positions in the business. Legal & General Group Plc grew its position in Flushing Financial by 9.7% during the 4th quarter. Legal & General Group Plc now owns 9,740 shares of the bank’s stock worth $210,000 after acquiring an additional 858 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Flushing Financial by 13.9% in the fourth quarter. Citigroup Inc. now owns 11,507 shares of the bank’s stock worth $247,000 after buying an additional 1,403 shares in the last quarter. Context BH Capital Management LP lifted its holdings in shares of Flushing Financial by 2.7% in the fourth quarter. Context BH Capital Management LP now owns 80,146 shares of the bank’s stock worth $1,726,000 after buying an additional 2,077 shares in the last quarter. Boston Partners lifted its holdings in shares of Flushing Financial by 2.0% in the fourth quarter. Boston Partners now owns 109,535 shares of the bank’s stock worth $2,358,000 after buying an additional 2,150 shares in the last quarter. Finally, Gabelli Funds LLC lifted its holdings in shares of Flushing Financial by 0.6% in the fourth quarter. Gabelli Funds LLC now owns 545,593 shares of the bank’s stock worth $11,747,000 after buying an additional 3,000 shares in the last quarter. 78.83% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Francis W. Korzekwinski sold 6,615 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $23.25, for a total transaction of $153,798.75. Following the completion of the transaction, the insider now owns 70,166 shares in the company, valued at approximately $1,631,359.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Maria A. Grasso sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $23.34, for a total value of $186,720.00. The disclosure for this sale can be found here. Insiders own 5.19% 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, demand accounts, NOW accounts, and certificates of deposit.
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