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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/30/2024 | $15.00 → $16.50 | Overweight → Neutral | Piper Sandler |
| 8/31/2023 | $17.00 | Outperform | Raymond James |
Regional bank stocks, as monitored through the SPDR S&P Regional Banking ETF (NYSE:KRE), continue to trade about 13% lower than they were prior to the collapse of Silicon Valley Bank in March 2023, indicating that investor sentiment has yet to fully regain trust in the industry following last year’s sharp drop. The first-quarter earnings season has been notably positive for the Financials sector, which showed the largest positive difference between actual revenues and estimated revenues, according to FactSet earnings insights. Chart: Regional Bank Industry Trades 13% Lower Its Pre-SVB Levels A Resilient Quarter For Community Banks “The banking industry continued to show resil
Keefe, Bruyette & Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:FFIC) with a Market Perform and lowers the price target from $14 to $13.
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.
"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
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
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
4 - FLUSHING FINANCIAL CORP (0000923139) (Issuer)
4 - FLUSHING FINANCIAL CORP (0000923139) (Issuer)
4 - FLUSHING FINANCIAL CORP (0000923139) (Issuer)
4 - FLUSHING FINANCIAL CORP (0000923139) (Issuer)
SC 13G/A - FLUSHING FINANCIAL CORP (0000923139) (Subject)
SC 13G/A - FLUSHING FINANCIAL CORP (0000923139) (Subject)
SC 13G/A - FLUSHING FINANCIAL CORP (0000923139) (Subject)
Piper Sandler downgraded Flushing Fin from Overweight to Neutral and set a new price target of $16.50 from $15.00 previously
Raymond James initiated coverage of Flushing Fin with a rating of Outperform and set a new price target of $17.00
DA Davidson initiated coverage of Flushing Fin with a rating of Neutral
8-K - FLUSHING FINANCIAL CORP (0000923139) (Filer)
S-3 - FLUSHING FINANCIAL CORP (0000923139) (Filer)
8-K - FLUSHING FINANCIAL CORP (0000923139) (Filer)
"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
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
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