FY2018 EPS Estimates for Flushing Financial Co. Lifted by Gabelli (FFIC)
Flushing Financial Co. (NASDAQ:FFIC) – Investment analysts at Gabelli increased their FY2018 EPS estimates for shares of Flushing Financial in a research report issued on Thursday. Gabelli analyst S. Comery now anticipates that the bank will earn $1.95 per share for the year, up from their prior estimate of $1.90. Gabelli also issued estimates for Flushing Financial’s FY2022 earnings at $2.55 EPS.
Several other brokerages also recently issued reports on FFIC. Piper Jaffray Companies restated a “hold” rating and issued a $28.00 price objective on shares of Flushing Financial in a research report on Friday, November 10th. Zacks Investment Research downgraded Flushing Financial from a “hold” rating to a “sell” rating in a research report on Wednesday. ValuEngine upgraded Flushing Financial from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial in a research report on Sunday, October 8th. Finally, Sandler O’Neill downgraded Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Thursday, November 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $30.25.
Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.09). Flushing Financial had a net margin of 16.79% and a return on equity of 8.59%. The company had revenue of $46.12 million during the quarter.
In related news, Director John E. Sr Roe, Sr. sold 3,629 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $26.98, for a total transaction of $97,910.42. Following the transaction, the director now directly owns 66,434 shares in the company, valued at $1,792,389.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $28.93, for a total value of $144,650.00. Following the transaction, the director now owns 41,066 shares in the company, valued at $1,188,039.38. The disclosure for this sale can be found here. Insiders have sold 16,058 shares of company stock worth $443,589 over the last quarter. 4.86% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Flushing Financial by 13.3% during the second quarter. State Street Corp now owns 593,185 shares of the bank’s stock worth $16,725,000 after buying an additional 69,666 shares during the period. Susquehanna International Group LLP purchased a new position in Flushing Financial during the second quarter worth about $522,000. Vanguard Group Inc. lifted its position in Flushing Financial by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,365,993 shares of the bank’s stock worth $38,507,000 after buying an additional 42,787 shares during the period. OxFORD Asset Management LLP purchased a new position in Flushing Financial during the third quarter worth about $298,000. Finally, Schwab Charles Investment Management Inc. lifted its position in Flushing Financial by 5.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 135,543 shares of the bank’s stock worth $4,029,000 after buying an additional 7,382 shares during the period. Hedge funds and other institutional investors own 76.51% of the company’s stock.
Flushing Financial Company Profile
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’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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