Zacks: Brokerages Expect Flushing Financial Co. (FFIC) to Post $0.45 EPS

Brokerages expect Flushing Financial Co. (NASDAQ:FFIC) to report $0.45 earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have provided estimates for Flushing Financial’s earnings. Flushing Financial posted earnings of $0.40 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The business is expected to issue its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Flushing Financial will report full-year earnings of $1.99 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.02. For the next fiscal year, analysts expect that the firm will post earnings of $2.17 per share, with EPS estimates ranging from $2.15 to $2.18. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Flushing Financial.

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Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.09). The business had revenue of $46.12 million during the quarter. Flushing Financial had a return on equity of 8.59% and a net margin of 16.79%.

Several research firms have recently weighed in on FFIC. BidaskClub raised shares of Flushing Financial from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. Zacks Investment Research lowered shares of Flushing Financial from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Sandler O’Neill raised shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Thursday, February 15th. Finally, ValuEngine lowered shares of Flushing Financial from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Flushing Financial currently has a consensus rating of “Hold” and a consensus target price of $29.75.

Shares of NASDAQ FFIC traded up $0.10 during mid-day trading on Wednesday, hitting $27.11. 8,612 shares of the stock were exchanged, compared to its average volume of 83,519. The firm has a market cap of $773.42, a price-to-earnings ratio of 17.34, a PEG ratio of 1.37 and a beta of 1.01. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 2.46. Flushing Financial has a twelve month low of $24.27 and a twelve month high of $31.69.

Flushing Financial announced that its board has approved a stock buyback plan on Tuesday, February 27th that authorizes the company to buyback 1,000,000 outstanding shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 9th were paid a dividend of $0.20 per share. This is a boost from Flushing Financial’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Thursday, March 8th. Flushing Financial’s dividend payout ratio is 50.96%.

In other Flushing Financial news, Director Donna M. Obrien sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $27.73, for a total value of $166,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.86% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its holdings in Flushing Financial by 5.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 143,137 shares of the bank’s stock worth $3,937,000 after purchasing an additional 7,594 shares during the period. California Public Employees Retirement System raised its holdings in Flushing Financial by 5.6% in the fourth quarter. California Public Employees Retirement System now owns 121,655 shares of the bank’s stock worth $3,346,000 after purchasing an additional 6,454 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Flushing Financial by 0.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 685,178 shares of the bank’s stock worth $18,843,000 after purchasing an additional 2,089 shares during the period. Martin & Co. Inc. TN raised its holdings in Flushing Financial by 3.4% in the fourth quarter. Martin & Co. Inc. TN now owns 61,963 shares of the bank’s stock worth $1,704,000 after purchasing an additional 2,025 shares during the period. Finally, Context BH Capital Management LP raised its holdings in Flushing Financial by 278.8% in the fourth quarter. Context BH Capital Management LP now owns 64,620 shares of the bank’s stock worth $1,777,000 after purchasing an additional 47,563 shares during the period. 80.59% of the stock is currently owned by hedge funds and other institutional investors.

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Flushing Financial Company Profile

Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).

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Earnings History and Estimates for Flushing Financial (NASDAQ:FFIC)

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