Gabelli Analysts Reduce Earnings Estimates for Flushing Financial Corp. (FFIC)
Flushing Financial Corp. (NASDAQ:FFIC) – Research analysts at Gabelli decreased their FY2018 earnings estimates for shares of Flushing Financial Corp. in a research report issued on Friday. Gabelli analyst S. Comery now anticipates that the firm will post earnings of $1.70 per share for the year, down from their previous forecast of $1.75. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for Flushing Financial Corp.’s FY2020 earnings at $1.95 EPS.
Flushing Financial Corp. (NASDAQ:FFIC) last announced its earnings results on Tuesday, October 25th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.39. Flushing Financial Corp. had a return on equity of 8.96% and a net margin of 23.79%. During the same quarter last year, the business earned $0.40 EPS.
A number of other research firms have also recently issued reports on FFIC. Sandler O’Neill cut shares of Flushing Financial Corp. from a “buy” rating to a “hold” rating and upped their price target for the company from $23.00 to $24.00 in a report on Wednesday, August 31st. Zacks Investment Research upgraded shares of Flushing Financial Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, August 30th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Flushing Financial Corp. from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, August 1st.
Shares of Flushing Financial Corp. (NASDAQ:FFIC) traded up 0.69% during mid-day trading on Monday, hitting $26.43. The stock had a trading volume of 39,581 shares. The firm’s 50 day moving average price is $23.06 and its 200-day moving average price is $21.79. The company has a market cap of $762.80 million, a PE ratio of 12.29 and a beta of 0.92. Flushing Financial Corp. has a one year low of $18.95 and a one year high of $26.56.
In related news, Director John E. Sr Roe, Sr. sold 10,000 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $21.61, for a total value of $216,100.00. Following the completion of the sale, the director now owns 65,634 shares in the company, valued at $1,418,350.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Caterina Depasquale sold 1,200 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $22.87, for a total transaction of $27,444.00. Following the completion of the transaction, the senior vice president now directly owns 16,599 shares of the company’s stock, valued at approximately $379,619.13. The disclosure for this sale can be found here. 5.85% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in Flushing Financial Corp. by 40.8% in the second quarter. Legal & General Group Plc now owns 5,868 shares of the company’s stock valued at $115,000 after buying an additional 1,700 shares during the period. BlackRock Inc. raised its position in Flushing Financial Corp. by 197.5% in the second quarter. BlackRock Inc. now owns 7,789 shares of the company’s stock valued at $155,000 after buying an additional 5,171 shares during the period. BlackRock Advisors LLC raised its position in Flushing Financial Corp. by 3.1% in the second quarter. BlackRock Advisors LLC now owns 14,047 shares of the company’s stock valued at $279,000 after buying an additional 428 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Flushing Financial Corp. during the second quarter valued at about $323,000. Finally, Context BH Capital Management LP acquired a new position in Flushing Financial Corp. during the second quarter valued at about $324,000. 76.99% of the stock is owned by hedge funds and other institutional investors.
About Flushing Financial Corp.
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 owns three subsidiaries: Flushing Preferred Funding Corporation (FPFC), Flushing Service Corporation, and FSB Properties Inc (Properties).
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