What is DA Davidson’s Estimate for FFIC FY2024 Earnings?

Flushing Financial Co. (NASDAQ:FFIC) – Investment analysts at DA Davidson upped their FY2024 earnings per share estimates for shares of Flushing Financial in a research report issued to clients and investors 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 forecast 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 Flushing Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, December 11th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Stock Performance

Shares of Flushing Financial stock opened at $14.25 on Friday. The firm has a market capitalization of $414.23 million, a P/E ratio of 16.38 and a beta of 0.78. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.27. The business’s fifty day simple moving average is $16.52 and its 200 day simple moving average is $14.66. Flushing Financial has a 12 month low of $10.74 and a 12 month high of $18.59.

Hedge Funds Weigh In On Flushing Financial

Several hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its holdings in Flushing Financial by 1.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 68,151 shares of the bank’s stock worth $896,000 after purchasing an additional 907 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Flushing Financial by 4,000.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after buying an additional 2,000 shares during the period. FMR LLC lifted its holdings in shares of Flushing Financial by 64.1% in the third quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after buying an additional 2,836 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Flushing Financial by 18.7% in the third quarter. BNP Paribas Financial Markets now owns 19,661 shares of the bank’s stock valued at $287,000 after acquiring an additional 3,100 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Flushing Financial by 2.0% during 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 acquiring an additional 3,984 shares in the last quarter. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial 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 completion of the transaction, the chief accounting officer now directly owns 34,853 shares in the company, valued at approximately $564,270.07. The trade was a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sam Sang Ki Han sold 10,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 67,251 shares in the company, valued at $1,040,372.97. The trade was a 12.94 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.31% of the company’s stock.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.18%. The ex-dividend date is Friday, December 6th. Flushing Financial’s dividend payout ratio (DPR) is 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.