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Flushing Financial Corp. (FFIC)
NASDAQ:FFIC
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Earnings Data
Report Date
Jan 28, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.22Last Year’s EPS
$0.25Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: -4.23%
|Next Earnings Date:Jan 28, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance with record earnings per share and improved net interest margins. The bank also showcased strong credit performance and a solid liquidity position. However, the call also pointed out challenges such as high noninterest expense growth and potential risks with loan portfolio repricing. The sentiment is cautiously optimistic with a focus on long-term strategies.Company Guidance
During the third quarter 2024 earnings call for Flushing Financial Corporation, a comprehensive overview of financial metrics and strategic objectives was provided. The company's GAAP earnings per share stood at $0.30, while core earnings were reported at $0.26, marking the best quarter in the past seven quarters. Net interest income increased by 6.6% quarter-over-quarter, attributed to a 5 basis point rise in the net interest margin. The firm highlighted a conservative credit profile, with nonperforming assets at 59 basis points and net charge-offs at 6 basis points year-to-date. Liquidity was strong, with $3.9 billion available as of September 30, and uninsured deposits at 15% of total deposits. Noninterest expenses grew by 6% year-to-date, aligning with historical mid-single-digit averages, as the company invested in new branches and personnel. The management emphasized its focus on sustaining credit discipline, enhancing the net interest margin, and maintaining robust liquidity and capital, setting a foundation for improved long-term profitability.Record Earnings Per Share
Flushing Financial Corporation recorded GAAP earnings per share of $0.30 and core earnings of $0.26, marking the best quarter in the past 7.
Net Interest Margin Improvement
Net interest income increased 6.6% quarter-over-quarter as the net interest margin increased by 5 basis points.
Strong Credit Performance
Flushing Bank maintained a low-risk credit profile with nonperforming assets at 59 basis points and criticized and classified loans at 100 basis points.
Solid Liquidity Position
Available liquidity was $3.9 billion as of September 30, with uninsured and uncollateralized deposits remaining low at 15% of total deposits.
Deposit Growth
Average deposits increased 9% year-over-year and 4% quarter-over-quarter, with a loan-to-deposit ratio improvement to 90% from 103% a year ago.
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FFIC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FFIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $14.89 | $15.10 | +1.41% |
| Jul 29, 2024 | $15.80 | $14.57 | -7.78% |
| Apr 23, 2024 | $11.72 | $11.15 | -4.86% |
| Jan 25, 2024 | $15.76 | $16.15 | +2.47% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Flushing Financial Corp. (FFIC) report earnings?
Flushing Financial Corp. (FFIC) is schdueled to report earning on Jan 28, 2025, After Close Not Confirmed.
What is Flushing Financial Corp. (FFIC) earnings time?
Flushing Financial Corp. (FFIC) earnings time is at Jan 28, 2025, After Close Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FFIC EPS forecast?
FFIC EPS forecast for the fiscal quarter 2024 (Q4) is $0.22.
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