Flushing Financial (NASDAQ:FFIC) Releases Quarterly Earnings Results, Hits Expectations

Flushing Financial (NASDAQ:FFIC) issued its earnings results on Monday. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.18, Zacks reports. The business had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. During the same period in the prior year, the firm posted $0.26 EPS.

Flushing Financial Stock Performance

Shares of NASDAQ:FFIC opened at $16.26 on Tuesday. The business has a fifty day moving average of $13.31 and a 200-day moving average of $13.15. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 0.97. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The firm has a market cap of $472.68 million, a PE ratio of 16.26 and a beta of 0.77.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 5.41%. The ex-dividend date of this dividend was Friday, June 7th. Flushing Financial’s payout ratio is presently 88.00%.

Analyst Ratings Changes

Several research analysts have issued reports on FFIC shares. Piper Sandler lowered Flushing Financial from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $15.00 to $16.50 in a research note on Tuesday. StockNews.com cut shares of Flushing Financial from a “hold” rating to a “sell” rating in a research report on Monday, July 8th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Flushing Financial from $14.00 to $13.00 and set a “market perform” rating on the stock in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $15.50.

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.