Flushing Financial (NASDAQ:FFIC) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Flushing Financial (NASDAQ:FFIC - Get Free Report) posted its earnings results on Tuesday. The bank reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01), Yahoo Finance reports. The business had revenue of $112.58 million for the quarter, compared to analyst estimates of $47.12 million. Flushing Financial had a net margin of 7.37% and a return on equity of 4.11%. During the same quarter in the prior year, the firm earned $0.10 earnings per share.

Flushing Financial Stock Down 4.8 %

Flushing Financial stock traded down $0.59 during mid-day trading on Wednesday, reaching $11.68. 215,255 shares of the company's stock were exchanged, compared to its average volume of 193,780. The company has a market cap of $339.54 million, a P/E ratio of 11.12 and a beta of 0.73. Flushing Financial has a twelve month low of $9.28 and a twelve month high of $18.00. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 1.26. The company has a fifty day moving average of $12.32 and a 200-day moving average of $13.83.

Flushing Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.88 dividend on an annualized basis and a yield of 7.53%. Flushing Financial's dividend payout ratio (DPR) is presently 83.81%.

Analyst Ratings Changes

FFIC has been the subject of a number of analyst reports. DA Davidson decreased their price objective on shares of Flushing Financial from $17.00 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, March 5th. Raymond James upped their price objective on shares of Flushing Financial from $17.00 to $19.00 and gave the company an "outperform" rating in a research note on Friday, January 5th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Flushing Financial from $15.50 to $14.00 and set a "market perform" rating for the company in a research note on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Flushing Financial currently has an average rating of "Hold" and an average price target of $15.50.

Insiders Place Their Bets

In other Flushing Financial news, EVP Francis W. Korzekwinski sold 7,649 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the sale, the executive vice president now directly owns 73,493 shares in the company, valued at approximately $926,746.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now directly owns 32,391 shares of the company's stock, valued at approximately $427,885.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Francis W. Korzekwinski sold 7,649 shares of Flushing Financial stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total transaction of $96,453.89. Following the sale, the executive vice president now directly owns 73,493 shares of the company's stock, valued at $926,746.73. The disclosure for this sale can be found here. 5.54% of the stock is owned by company insiders.

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.