Flushing Financial (NASDAQ:FFIC) Announces Earnings Results

Flushing Financial (NASDAQ:FFIC) released its earnings results on Monday. The bank reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18, Zacks reports. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. The company had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. During the same period last year, the firm earned $0.26 EPS.

Flushing Financial Stock Performance

Shares of NASDAQ:FFIC opened at $14.73 on Thursday. The firm’s 50 day simple moving average is $13.34 and its 200 day simple moving average is $13.14. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $428.20 million, a price-to-earnings ratio of 14.73 and a beta of 0.77.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a $0.22 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.97%. Flushing Financial’s dividend payout ratio (DPR) is presently 88.00%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FFIC shares. Keefe, Bruyette & Woods lowered their price objective on Flushing Financial from $14.00 to $13.00 and set a “market perform” rating for the company in a research report on Friday, April 26th. Piper Sandler cut shares of Flushing Financial from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $15.00 to $16.50 in a research report on Tuesday. StockNews.com downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Finally, Raymond James raised their price objective on shares of Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.00.

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.