For the quarter ended December 2023, Flushing Financial (FFIC - Free Report) reported revenue of $53.49 million, up 14.9% over the same period last year. EPS came in at $0.25, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +9.53% over the Zacks Consensus Estimate of $48.84 million. With the consensus EPS estimate being $0.23, the EPS surprise was +8.70%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Flushing Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 76.7% versus 77.7% estimated by two analysts on average.
- Average Interest-Earning Assets: $8.08 billion compared to the $8.08 billion average estimate based on two analysts.
- Net Interest Margin: 2.3% versus the two-analyst average estimate of 2.2%.
- Other income: $1.14 million versus the two-analyst average estimate of $0.53 million.
- Net Interest Income: $46.09 million versus the two-analyst average estimate of $43.85 million.
- Banking services fee income: $2.82 million compared to the $2.70 million average estimate based on two analysts.
- Total Non-Interest Income: $7.40 million versus the two-analyst average estimate of $5 million.
- Federal Home Loan Bank of New York stock dividends: $0.66 million compared to the $0.58 million average estimate based on two analysts.
- Bank owned life insurance: $1.17 million compared to the $1.20 million average estimate based on two analysts.
View all Key Company Metrics for Flushing Financial here>>>Shares of Flushing Financial have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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For the quarter ended December 2023, Flushing Financial (FFIC - Free Report) reported revenue of $53.49 million, up 14.9% over the same period last year. EPS came in at $0.25, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +9.53% over the Zacks Consensus Estimate of $48.84 million. With the consensus EPS estimate being $0.23, the EPS surprise was +8.70%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Flushing Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency ratio: 76.7% versus 77.7% estimated by two analysts on average.
- Average Interest-Earning Assets: $8.08 billion compared to the $8.08 billion average estimate based on two analysts.
- Net Interest Margin: 2.3% versus the two-analyst average estimate of 2.2%.
- Other income: $1.14 million versus the two-analyst average estimate of $0.53 million.
- Net Interest Income: $46.09 million versus the two-analyst average estimate of $43.85 million.
- Banking services fee income: $2.82 million compared to the $2.70 million average estimate based on two analysts.
- Total Non-Interest Income: $7.40 million versus the two-analyst average estimate of $5 million.
- Federal Home Loan Bank of New York stock dividends: $0.66 million compared to the $0.58 million average estimate based on two analysts.
- Bank owned life insurance: $1.17 million compared to the $1.20 million average estimate based on two analysts.
View all Key Company Metrics for Flushing Financial here>>>Shares of Flushing Financial have returned -1.8% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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