What is DA Davidson's Forecast for FFIC FY2024 Earnings?

Flushing Financial Co. (NASDAQ:FFIC - Free Report) - Equities researchers at DA Davidson raised their FY2024 earnings per share estimates for Flushing Financial in a report released 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 raised 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 company. Based on data from MarketBeat.com, Flushing Financial presently has a consensus rating of "Hold" and an average target price of $15.50.

Flushing Financial Stock Up 0.1 %

Shares of FFIC traded up $0.01 during midday trading on Friday, hitting $14.26. The company had a trading volume of 925,018 shares, compared to its average volume of 201,590. Flushing Financial has a 1 year low of $10.74 and a 1 year high of $18.59. The firm has a market capitalization of $414.52 million, a P/E ratio of 16.39 and a beta of 0.78. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.94 and a current ratio of 0.94. The company's 50-day simple moving average is $16.52 and its 200-day simple moving average is $14.66.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC grew its holdings in shares of Flushing Financial by 1.3% during the second quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank's stock worth $896,000 after buying an additional 907 shares during the last quarter. Nisa Investment Advisors LLC lifted its position in Flushing Financial by 4,000.0% during 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 during the period. FMR LLC grew its stake in shares of Flushing Financial by 64.1% in the 3rd quarter. FMR LLC now owns 7,259 shares of the bank's stock valued at $106,000 after purchasing an additional 2,836 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Flushing Financial by 18.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank's stock valued at $287,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank's stock valued at $2,736,000 after purchasing an additional 3,984 shares during the period. 67.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Flushing Financial

In other news, Director Sam Sang Ki Han sold 10,000 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $1,040,372.97. This trade represents a 12.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Astrid Burrowes sold 8,000 shares of the company's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $16.19, for a total transaction of $129,520.00. Following the completion of the sale, the chief accounting officer now owns 34,853 shares of the company's stock, valued at approximately $564,270.07. This trade represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by insiders.

Flushing Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Friday, December 6th. Flushing Financial's dividend payout ratio (DPR) is 101.15%.

About Flushing Financial

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.