Flushing Financial Co. (NASDAQ:FFIC) – Equities researchers at Piper Jaffray Companies cut their Q2 2019 earnings per share (EPS) estimates for shares of Flushing Financial in a report issued on Tuesday, August 7th, Zacks Investment Research reports. Piper Jaffray Companies analyst M. Breese now anticipates that the bank will post earnings of $0.47 per share for the quarter, down from their previous forecast of $0.50. Piper Jaffray Companies also issued estimates for Flushing Financial’s Q3 2019 earnings at $0.46 EPS, Q4 2019 earnings at $0.47 EPS, Q1 2020 earnings at $0.41 EPS and Q2 2020 earnings at $0.49 EPS.
Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, July 24th. The bank reported $0.49 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. The firm had revenue of $45.81 million for the quarter, compared to the consensus estimate of $45.10 million. Flushing Financial had a net margin of 16.32% and a return on equity of 8.45%.
Shares of NASDAQ:FFIC traded up $0.07 during midday trading on Wednesday, hitting $25.92. The company’s stock had a trading volume of 44,800 shares, compared to its average volume of 70,420. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 2.32. The company has a market cap of $735.96 million, a P/E ratio of 16.51, a P/E/G ratio of 1.25 and a beta of 0.95. Flushing Financial has a 12-month low of $24.59 and a 12-month high of $31.45.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Monday, September 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.09%. The ex-dividend date is Friday, September 7th. Flushing Financial’s payout ratio is currently 50.96%.
Institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in Flushing Financial by 63.5% during the first quarter. Prudential Financial Inc. now owns 70,268 shares of the bank’s stock worth $1,895,000 after purchasing an additional 27,300 shares during the last quarter. Wedge Capital Management L L P NC increased its position in shares of Flushing Financial by 10.1% during the first quarter. Wedge Capital Management L L P NC now owns 49,941 shares of the bank’s stock valued at $1,346,000 after acquiring an additional 4,580 shares during the last quarter. Mackay Shields LLC increased its position in shares of Flushing Financial by 19.0% during the second quarter. Mackay Shields LLC now owns 50,107 shares of the bank’s stock valued at $1,308,000 after acquiring an additional 8,000 shares during the last quarter. Teton Advisors Inc. increased its position in shares of Flushing Financial by 3.2% during the first quarter. Teton Advisors Inc. now owns 619,370 shares of the bank’s stock valued at $16,698,000 after acquiring an additional 19,400 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Flushing Financial by 0.6% during the first quarter. Northern Trust Corp now owns 1,190,246 shares of the bank’s stock valued at $32,089,000 after acquiring an additional 6,596 shares during the last quarter. Hedge funds and other institutional investors own 75.56% 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. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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