Flushing Financial Q1 2024 GAAP EPS $0.14, Inline, Sales $45.481M Miss $48.286M Estimate

4/23/24 5:51:45 PM ET

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Flushing Financial (NASDAQ:FFIC) reported quarterly earnings of $0.14 per share which met the analyst consensus estimate. This is a 133.33 percent increase over earnings of $0.06 per share from the same period last year. The company reported quarterly sales of $45.481 million which missed the analyst consensus estimate of $48.286 million by 5.81 percent. This is a 12.82 percent decrease over sales of $52.170 million the same period last year.

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Recent Analyst Ratings for
$FFIC

Date	Price Target	Rating	Analyst
7/30/2024	$15.00 → $16.50	Overweight → Neutral	Piper Sandler
8/31/2023	$17.00	Outperform	Raymond James

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Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile
"We take pride in what we believe is our low risk credit profile that has performed well over our 95-year history. While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit culture are demonstrated by only $4,000 of net charge-offs, 24 bps of 30-89 day delinquencies to gross loans, and decreased criticized and classified loans of 23% and flat NPAs during 1Q24. The drivers of this excellent credit performance are centered in our conservative underwriting with 89% of the portfolio secured by real estate, average LTV ratios of less than 36%, multifamily and investor co
4/23/24 5:30:00 PM ET
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Flushing Financial Corporation Declares Quarterly Dividend of $0.22 per Share
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on March 22, 2024, to shareholders of record at the close of business on March 11, 2024.John R. Buran, the Company's President and Chief Executive Officer stated: "The Company has a long history of paying dividends to shareholders since our first dividend in 1996. This quarter's dividend marks the 111th consecutive quarterly dividend and highlights our commitment to shareholders. Give
2/27/24 5:00:00 PM ET
$FFIC
Major Banks
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Flushing Financial Corporation To Meet With Institutional Investors
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (Nasdaq-GS:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Company has made available through its website, FlushingBank.com, and from the 8-K filed today, a presentation for several upcoming investor events, including attending the 2024 RBC Capital Markets Financial Institutions Conference on March 6, 2024. The presentation materials include further details on our underwriting and management of our multifamily lending portfolio. John R. Buran, the Company's President and Chief Executive Officer and Susan K. Cullen, the Company's Senior Executive Vice Pres
2/27/24 4:15:00 PM ET
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Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile
"We take pride in what we believe is our low risk credit profile that has performed well over our 95-year history. While there have been increased concerns about commercial real estate loans, especially New York City office and rent regulated multifamily exposure, hallmarks of our risk averse credit culture are demonstrated by only $4,000 of net charge-offs, 24 bps of 30-89 day delinquencies to gross loans, and decreased criticized and classified loans of 23% and flat NPAs during 1Q24. The drivers of this excellent credit performance are centered in our conservative underwriting with 89% of the portfolio secured by real estate, average LTV ratios of less than 36%, multifamily and investor co
4/23/24 5:30:00 PM ET
$FFIC
Major Banks
Finance
Flushing Financial Corporation Declares Quarterly Dividend of $0.22 per Share
UNIONDALE, NY / ACCESSWIRE / February 27, 2024 / Flushing Financial Corporation (the "Company") (NASDAQ:FFIC), the parent holding company for Flushing Bank (the "Bank"), today announced that the Board of Directors (the "Board") declared a quarterly dividend on its common stock of $0.22 per common share, payable on March 22, 2024, to shareholders of record at the close of business on March 11, 2024.John R. Buran, the Company's President and Chief Executive Officer stated: "The Company has a long history of paying dividends to shareholders since our first dividend in 1996. This quarter's dividend marks the 111th consecutive quarterly dividend and highlights our commitment to shareholders. Give
2/27/24 5:00:00 PM ET
$FFIC
Major Banks
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Flushing Financial Corporation Reports 2023 and 4Q23 GAAP EPS of $0.96 and $0.27, and Core EPS of $0.83 and $0.25, Respectively; Continues to Successfully Execute On Its Action Plan
John R. Buran, President and CEO Commentary "Flushing Financial delivered sequential GAAP and Core NIM expansion in 4Q23 of 7 and 18 basis points, respectively, as our team continued to successfully execute against the previously announced action plan amid this challenging environment. Importantly, during the quarter, total average deposits increased 3.1% YoY and 0.9% QoQ, while average noninterest bearing deposits increased $21.6 million, or 2.5% QoQ. Our loan portfolio remains resilient through the credit cycle with 89% secured by real estate, strong debt service coverage ratios, low average loan to values, and controllable repricing risk. Credit quality continues to be a strength for th
1/25/24 6:00:00 PM ET
$FFIC
Major Banks
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Flushing Financial Q1 2024 GAAP EPS $0.14, Inline, Sales $45.481M Miss $48.286M Estimate

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Recent Analyst Ratings for
$FFIC

$FFIC
Analyst Ratings

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Flushing Fin downgraded by Piper Sandler with a new price target

Raymond James initiated coverage on Flushing Fin with a new price target

DA Davidson initiated coverage on Flushing Fin

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Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile

Flushing Financial Corporation Declares Quarterly Dividend of $0.22 per Share

Flushing Financial Corporation To Meet With Institutional Investors

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Large Ownership Changes

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SEC Form SC 13G/A filed by Flushing Financial Corporation (Amendment)

SEC Form SC 13G/A filed by Flushing Financial Corporation (Amendment)

SEC Form SC 13G/A filed by Flushing Financial Corporation (Amendment)

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Insider Purchases

Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

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SEC Filings

Cullen Susan bought $7,476 worth of shares (600 units at $12.46), increasing direct ownership by 0.82% to 73,407 units (SEC Form 4)

Flushing Financial Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

SEC Form S-3 filed by Flushing Financial Corporation

Flushing Financial Corporation filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

$FFIC
Financials

Live finance-specific insights

Flushing Financial Corporation Reports 1Q24 GAAP and Core EPS of $0.12 and $0.14, Respectively; Excellent Quality Driven by Low Risk Credit Profile

Flushing Financial Corporation Declares Quarterly Dividend of $0.22 per Share

Flushing Financial Corporation Reports 2023 and 4Q23 GAAP EPS of $0.96 and $0.27, and Core EPS of $0.83 and $0.25, Respectively; Continues to Successfully Execute On Its Action Plan

$FFIC
Market Insights

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Keefe, Bruyette & Woods Maintains Market Perform on Flushing Financial, Lowers Price Target to $13