Flushing Financial Co. (NASDAQ:FFIC) – Equities researchers at Piper Jaffray Companies decreased their Q3 2019 earnings per share (EPS) estimates for Flushing Financial in a report released on Thursday, August 8th. Piper Jaffray Companies analyst M. Breese now anticipates that the bank will earn $0.42 per share for the quarter, down from their previous estimate of $0.44. Piper Jaffray Companies also issued estimates for Flushing Financial’s Q4 2019 earnings at $0.42 EPS, FY2019 earnings at $1.59 EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.46 EPS and FY2020 earnings at $1.64 EPS.
Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Flushing Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. Sandler O’Neill downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Zacks Investment Research downgraded shares of Flushing Financial from a “hold” rating to a “sell” rating in a research note on Friday, July 26th. Finally, Gabelli reiterated a “buy” rating on shares of Flushing Financial in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $25.00.
Flushing Financial (NASDAQ:FFIC) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The firm had revenue of $42.46 million during the quarter, compared to the consensus estimate of $45.20 million. Flushing Financial had a return on equity of 9.44% and a net margin of 16.94%.
A number of institutional investors have recently modified their holdings of FFIC. Norges Bank bought a new position in Flushing Financial during the fourth quarter valued at approximately $10,858,000. BlackRock Inc. lifted its position in Flushing Financial by 3.7% during the second quarter. BlackRock Inc. now owns 2,137,920 shares of the bank’s stock valued at $47,462,000 after purchasing an additional 76,939 shares during the period. Frontier Capital Management Co. LLC lifted its position in Flushing Financial by 1.6% during the first quarter. Frontier Capital Management Co. LLC now owns 2,561,121 shares of the bank’s stock valued at $56,165,000 after purchasing an additional 41,127 shares during the period. Teton Advisors Inc. lifted its position in Flushing Financial by 6.0% during the second quarter. Teton Advisors Inc. now owns 665,572 shares of the bank’s stock valued at $14,776,000 after purchasing an additional 37,380 shares during the period. Finally, Renaissance Technologies LLC lifted its position in Flushing Financial by 4.4% during the second quarter. Renaissance Technologies LLC now owns 593,860 shares of the bank’s stock valued at $13,184,000 after purchasing an additional 25,200 shares during the period. Institutional investors own 76.95% 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. It offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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