Flushing Financial (NASDAQ:FFIC) Stock, Quote.Headers.trade-ideas

Flushing Financial

Flushing Financial Corp operates as a bank holding company, which is engaged in the provision of banking and financial services. It provides Personal, Business, lending, Government banking, and Card services. Its principal business is attracting retail deposits from the general public and investing those deposits together with funds generated from ongoing operations and borrowings, in originations and purchases of multi-family residential properties, commercial business loans, commercial real estate mortgage loans, construction loans, small business administration loans, and other small business loans.

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The Regional Banking ETF is down 13% since the collapse of Silicon Valley Bank in 2023, indicating investor distrust. Q1 earnings show resilience in the sector with positive revenue difference.

Regional Banks Yet To Recover From SVB Collapse: Time To Invest In The Top Banking ETF?

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An inflation surprise greeted investors on Wednesday, sparking significant apprehension about the future of interest rates.

Stocks Sink On Worrisome Inflation Data, Yields Spike On Rate Cut Delays, Dollar Rallies: What&#39;s Driving Markets Wednesday?

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Inflation unexpectedly surges, shattering hopes for Fed rate cuts &amp; sending stocks down. Core inflation also exceeded expectations. No sector escapes losses, with real estate hit hardest.

Real Estate, Regional Bank Stocks Tank, Energy Cushions The Blow: March Inflation Rates Shake Up Sectors

Flushing Financial Corporation - Common Stock

Flushing Financial Corp

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Market Perform and raises the price target from $13 to $15.

News

Price Target

Analyst Ratings

Keefe, Bruyette & Woods Maintains Market Perform on Flushing Financial, Raises Price Target to $15

Raymond James analyst Steve Moss maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Outperform and raises the price target from $16 to $17.

Raymond James Maintains Outperform on Flushing Financial, Raises Price Target to $17

Piper Sandler analyst Mark Fitzgibbon downgrades Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) from Overweight to Neutral and raises the price target from $15 to $16.5.

Downgrades

Piper Sandler Downgrades Flushing Financial to Neutral, Raises Price Target to $16.5

Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) reported quarterly earnings of $0.18 per share which met the analyst consensus estimate. The company reported quarterly sales of $46.992 million which missed the analyst consensus estimate of $47.162 million by 0.36 percent. This is a 3.11 percent decrease over sales of $48.500 million the same period last year.

Earnings

Earnings Misses

Flushing Financial Q2 2024 Adj. EPS $0.18, Inline, Sales $46.992M Miss $47.162M Estimate

Regional bank stocks, as monitored through the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), 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 <a href="https://www.benzinga.com/topic/regional-banks">last year&#8217;s sharp drop.</a>
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
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="500" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121-1024x500.png" alt="" class="wp-image-364041" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121-1024x500.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121-300x147.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121-768x375.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121-1536x750.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/30155030/image-121.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
<h3 class="wp-block-heading">A Resilient Quarter For Community Banks</h3>
&#8220;The banking industry continued to show resilience in the first quarter,&#8221; the Federal Deposit Insurance Corporation (FDIC) stated in its latest Quarterly Banking Profile report, released this week.
The banking industry reported a net income of $64.2 billion for the first quarter, reflecting a 79.5% increase from the previous quarter. This significant rise was primarily attributed to reduced expenses related to the FDIC special assessment and decreased goodwill write-downs.
Notably, &#8220;community banks reported net income of $6.3 billion, a quarterly increase of 6.1%, driven by better results on the sale of securities and lower noninterest and provision expenses,&#8221; the FDIC wrote.
While overall banking loan growth was rather shallow, up by 1.7% from last year, marking the slowest rate since Q3 2021, loan growth at community banks was more robust, increasing by 7.1% from the prior year, led by commercial real estate and residential mortgage loans.
Domestic deposits increased for a second consecutive quarter, this time by $191 billion, driven by growth in transaction accounts. The regulator highlighted an ongoing transition from noninterest-bearing deposits toward interest-bearing deposits, with the latter increasing 1.7% quarter over quarter and the former declining for the eighth consecutive quarter.
The number of banks on the Problem Bank List, increased from 52 in Q4 2023 to 63 in Q1 2024. 
Although the number of problem banks was 43 a year ago, the increase to 63 banks still represents just 1.4% of the total banks. This percentage remains within the typical range of 1-2% seen during non-crisis periods, and well below levels seen during the 2008 financial crisis and 2022 financial condition stress. 
<h3 class="wp-block-heading">Top-Performing Regional Bank Stocks In May</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>Total Return (1M)</td>
</tr>
<tr>
<td>Independent Bank Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBTX#NYSE">IBTX</a>)</td>
<td>25.20%</td>
</tr>
<tr>
<td>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>)</td>
<td>24.53%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NYSE">FFIC</a>)</td>
<td>14.66%</td>
</tr>
<tr>
<td>Sandy Spring Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SASR#NYSE">SASR</a>)</td>
<td>13.47%</td>
</tr>
<tr>
<td>Coastal Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCB#NYSE">CCB</a>)</td>
<td>13.39%</td>
</tr>
<tr>
<td>National Bank Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>)</td>
<td>11.30%</td>
</tr>
<tr>
<td>Capitol Federal Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFFN#NYSE">CFFN</a>)</td>
<td>10.97%</td>
</tr>
<tr>
<td>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</td>
<td>10.60%</td>
</tr>
<tr>
<td>TFS Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFSL#NYSE">TFSL</a>)</td>
<td>9.41%</td>
</tr>
<tr>
<td>Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>)</td>
<td>9.11%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Data as of May 30, 2024</figcaption></figure>
Read now: <a href="https://www.benzinga.com/economics/macro-economic-events/24/05/39096164/feds-favorite-inflation-data-due-friday-how-could-markets-react-to-surprises">Fed&#8217;s Favorite Inflation Data Due Friday: How Could Markets React To Surprises?</a>
Photo: Shutterstock

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Market Perform and lowers the price target from $14 to $13.

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

Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) 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.

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

<h3>Companies Reporting Before The Bell</h3>
&bull; RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) is expected to report quarterly earnings at $1.23 per share on revenue of $18.41 billion.
&bull; MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is expected to report quarterly earnings at $3.45 per share on revenue of $684.13 million.
&bull; Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) is expected to report quarterly earnings at $1.85 per share on revenue of $2.29 billion.
&bull; Community Bank System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CBU#NYSE">CBU</a>) is expected to report quarterly earnings at $0.78 per share on revenue of $176.83 million.
&bull; Herc Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) is estimated to report quarterly earnings at $2.15 per share on revenue of $782.85 million.
&bull; JetBlue Airways (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBLU#NASDAQ">JBLU</a>) is expected to report quarterly loss at $0.52 per share on revenue of $2.20 billion.
&bull; General Motors (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) is expected to report quarterly earnings at $2.14 per share on revenue of $41.88 billion.
&bull; GE Aero (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is estimated to report quarterly earnings at $0.65 per share on revenue of $15.34 billion.
&bull; Spotify Technology (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) is projected to report quarterly earnings at $0.70 per share on revenue of $3.85 billion.
&bull; United Parcel Service (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NYSE">UPS</a>) is projected to report quarterly earnings at $1.30 per share on revenue of $21.87 billion.
&bull; Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is projected to report quarterly earnings at $0.22 per share on revenue of $259.77 million.
&bull; Polaris (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PII#NYSE">PII</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $1.75 billion.
&bull; PepsiCo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) is projected to report quarterly earnings at $1.52 per share on revenue of $18.08 billion.
&bull; Kiniksa Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) is expected to report quarterly loss at $0.18 per share on revenue of $79.61 million.
&bull; Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $1.53 billion.
&bull; Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) is likely to report quarterly earnings at $2.21 per share on revenue of $5.49 billion.
&bull; Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $72.52 million.
&bull; Preferred Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFBC#NASDAQ">PFBC</a>) is projected to report quarterly earnings at $2.38 per share on revenue of $66.30 million.
&bull; Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.74 per share on revenue of $5.67 billion.
&bull; Peoples Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEBO#NASDAQ">PEBO</a>) is estimated to report quarterly earnings at $0.80 per share on revenue of $109.74 million.
&bull; Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $1.01 billion.
&bull; WR Berkley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WRB#NYSE">WRB</a>) is expected to report quarterly earnings at $1.49 per share on revenue of $3.27 billion.
&bull; Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is estimated to report quarterly earnings at $5.81 per share on revenue of $15.95 billion.
&bull; GATX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GATX#NYSE">GATX</a>) is estimated to report quarterly earnings at $1.76 per share on revenue of $375.80 million.
&bull; NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is likely to report quarterly earnings at $0.73 per share on revenue of $5.92 billion.
&bull; Atlantic Union Bankshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AUB#NYSE">AUB</a>) is likely to report quarterly earnings at $0.72 per share on revenue of $181.92 million.
&bull; Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) is estimated to report quarterly earnings at $0.39 per share on revenue of $1.09 billion.
&bull; Fiserv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) is likely to report quarterly earnings at $1.79 per share on revenue of $4.58 billion.
&bull; NextEra Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) is projected to report quarterly earnings at $0.21 per share on revenue of $331.80 million.
&bull; Freeport-McMoRan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCX#NYSE">FCX</a>) is likely to report quarterly earnings at $0.30 per share on revenue of $5.23 billion.
&bull; Cambridge (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CATC#NASDAQ">CATC</a>) is expected to report quarterly earnings at $1.01 per share on revenue of $38.05 million.
&bull; Webster Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WBS#NYSE">WBS</a>) is projected to report quarterly earnings at $1.42 per share on revenue of $618.43 million.
&bull; Option Care Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPCH#NASDAQ">OPCH</a>) is projected to report quarterly earnings at $0.23 per share on revenue of $1.10 billion.
&bull; Kimberly-Clark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) is likely to report quarterly earnings at $1.62 per share on revenue of $5.08 billion.
&bull; Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $439.87 million.
&bull; First BanCorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is estimated to report quarterly earnings at $0.37 per share on revenue of $205.74 million.
&bull; First Commonwealth (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FCF#NYSE">FCF</a>) is expected to report quarterly earnings at $0.36 per share on revenue of $119.93 million.
&bull; Sandy Spring Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SASR#NASDAQ">SASR</a>) is estimated to report quarterly earnings at $0.45 per share on revenue of $81.04 million.
&bull; Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) is expected to report quarterly earnings at $1.89 per share on revenue of $560.41 million.
&bull; Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $5.62 billion.
&bull; Philip Morris Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) is likely to report quarterly earnings at $1.41 per share on revenue of $8.46 billion.
&bull; Ryder System (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/R#NYSE">R</a>) is estimated to report quarterly earnings at $1.71 per share on revenue of $3.06 billion.
&bull; LKQ (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKQ#NASDAQ">LKQ</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $3.77 billion.
&bull; PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is expected to report quarterly earnings at $2.36 per share on revenue of $3.58 billion.
<h3>Companies Reporting After The Bell</h3>
&bull; Avangrid (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGR#NYSE">AGR</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $2.63 billion.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHB#NASDAQ">RUSHB</a>) is likely to report earnings for its first quarter.
&bull; Rush Enterprises (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RUSHA#NASDAQ">RUSHA</a>) is projected to report quarterly earnings at $0.82 per share on revenue of $1.88 billion.
&bull; AudioEye (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) is likely to report quarterly loss at $0.08 per share on revenue of $8.03 million.
&bull; Stride (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LRN#NYSE">LRN</a>) is expected to report quarterly earnings at $1.43 per share on revenue of $507.18 million.
&bull; Zurn Elkay Water (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZWS#NYSE">ZWS</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $368.99 million.
&bull; Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is projected to report quarterly earnings at $0.62 per share on revenue of $163.60 million.
&bull; KKR Real Estate Finance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) is expected to report quarterly earnings at $0.38 per share on revenue of $44.35 million.
&bull; Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $6.38 billion.
&bull; Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $283.32 million.
&bull; Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) is likely to report quarterly earnings at $0.52 per share on revenue of $59.03 million.
&bull; Matador Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTDR#NYSE">MTDR</a>) is likely to report quarterly earnings at $1.47 per share on revenue of $740.47 million.
&bull; Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) is likely to report quarterly earnings at $2.43 per share on revenue of $8.62 billion.
&bull; Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) is likely to report quarterly earnings at $5.34 per share on revenue of $10.29 billion.
&bull; Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is estimated to report quarterly earnings at $3.43 per share on revenue of $4.73 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $48.29 million.
&bull; CoStar Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSGP#NASDAQ">CSGP</a>) is estimated to report quarterly earnings at $0.07 per share on revenue of $649.60 million.
&bull; Seagate Tech Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $1.67 billion.
&bull; Hawaiian Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HA#NASDAQ">HA</a>) is projected to report quarterly loss at $2.62 per share on revenue of $628.95 million.
&bull; Vicor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VICR#NASDAQ">VICR</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $84.83 million.
&bull; Veritex Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>) is projected to report quarterly earnings at $0.58 per share on revenue of $109.00 million.
&bull; Artisan Partners Asset (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APAM#NYSE">APAM</a>) is projected to report quarterly earnings at $0.73 per share on revenue of $265.60 million.
&bull; Enova International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) is expected to report quarterly earnings at $1.70 per share on revenue of $588.52 million.
&bull; Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is likely to report quarterly earnings at $0.51 per share on revenue of $21.27 billion.
&bull; EQT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) is likely to report quarterly earnings at $0.66 per share on revenue of $1.63 billion.
&bull; West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $2.01 billion.
&bull; Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is likely to report quarterly earnings at $1.01 per share on revenue of $148.23 million.
&bull; Highwoods Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIW#NYSE">HIW</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $206.78 million.
&bull; Retail Opportunity (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROIC#NASDAQ">ROIC</a>) is likely to report quarterly earnings at $0.26 per share on revenue of $83.82 million.
&bull; Pebblebrook Hotel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEB#NYSE">PEB</a>) is likely to report quarterly earnings at $0.15 per share on revenue of $303.41 million.
&bull; Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) is estimated to report quarterly earnings at $0.61 per share on revenue of $189.37 million.
&bull; Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) is likely to report quarterly earnings at $0.61 per share on revenue of $695.20 million.
&bull; Mattel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MAT#NASDAQ">MAT</a>) is expected to report quarterly loss at $0.13 per share on revenue of $831.06 million.
&bull; EastGroup Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGP#NYSE">EGP</a>) is expected to report quarterly earnings at $2.01 per share on revenue of $152.09 million.
&bull; Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) is likely to report quarterly earnings at $0.87 per share on revenue of $243.45 million.
&bull; QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is likely to report quarterly earnings at $1.30 per share on revenue of $58.85 million.
&bull; Wesbanco (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSBC#NASDAQ">WSBC</a>) is estimated to report quarterly earnings at $0.55 per share on revenue of $116.64 million.
&bull; Premier Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFC#NASDAQ">PFC</a>) is likely to report quarterly earnings at $0.47 per share on revenue of $52.54 million.
&bull; Canadian National Railway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNI#NYSE">CNI</a>) is likely to report quarterly earnings at $1.28 per share on revenue of $3.14 billion.
&bull; Veralto (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLTO#NYSE">VLTO</a>) is expected to report quarterly earnings at $0.76 per share on revenue of $1.22 billion.
&bull; Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is projected to report quarterly earnings at $0.90 per share on revenue of $726.32 million.
&bull; Texas Instruments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) is projected to report quarterly earnings at $1.07 per share on revenue of $3.61 billion.
&bull; iShares Frontier and Select EM ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FM#NYSE">FM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $1.06 billion.
&bull; IDEX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEX#NYSE">IEX</a>) is estimated to report quarterly earnings at $1.75 per share on revenue of $806.94 million.
&bull; Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) is likely to report quarterly earnings at $1.44 per share on revenue of $1.33 billion.
&bull; Bank of N.T Butterfield (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTB#NYSE">NTB</a>) is estimated to report quarterly earnings at $0.98 per share on revenue of $137.26 million.
&bull; First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $109.21 million.
&bull; East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is likely to report quarterly earnings at $1.99 per share on revenue of $577.70 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 23, 2024

An inflation surprise greeted investors on Wednesday, sparking significant apprehension about the future of <a href="https://www.benzinga.com/topic/interest-rates">interest rates</a>.
The discussion regarding Fed rate cuts seems to be postponed for the time being following a surge in the inflation rate to 3.5% in March 2024, surpassing estimates <a href="https://www.benzinga.com/markets/commodities/24/04/38181302/inflation-rises-more-than-expected-to-3-5-in-march-derails-june-rate-cut-hopes">of a 3.4% increase. </a>
What&#8217;s even more concerning is that core inflation, which excludes volatile food and energy prices, remained steady at 3.8%, defying expectations of a decline to 3.7%.
Many economists cautioned Wednesday there is no chance the Fed will reduce interest rates in June, with the likelihood of higher-for-longer <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38186082/this-puts-the-fed-in-quite-a-tricky-position-7-economists-weigh-in-on-march-inflati">interest rates gaining pace. </a>
Money markets are pricing in a 44-basis-point reduction in rates by year-end, with September being considered the most probable option for the onset of the easing cycle. Yet there are increasing risks that September could represent the sole reduction in 2024. 
By midday trading in New York, all major indices were in the red, with small caps underperforming large caps. Sector-wise, real estate stocks were the hardest hit, given their heightened sensitivity to interest rates. 
Yields on two-year Treasurys spiked by 20 basis points to 4.95%, registering the widest one-day increase in more than a year. Bonds collapsed, with the iShares 20+ Year Treasury Bond ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLT#NASDAQ">TLT</a>) sinking 1.6%. 
The greenback served as a safe haven, with the U.S. Dollar Index (DXY), as measured by the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rising by 1.1%. This marked its strongest session since the Silicon Valley Bank failure in March 2023.
Gold experienced a decline of 0.6%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) only eased by 0.2%, with both assets displaying some resilience despite the widespread market volatility.
<h3 class="wp-block-heading">Wednesday&#8217;s Performance In Major Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,149.49</td>
<td>-1.2%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>17,952.05</td>
<td>-1.2%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,377.89</td>
<td>-1.3%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,026.91</td>
<td>-2.7%</td>
</tr>
</tbody>
</table>
</figure>
The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) plummeted 1.2% to $513.26, the&nbsp;SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) was 1.3% down to $383.79 and the tech-heavy&nbsp;Invesco QQQ Trust&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1.1% to $437.32, according to&nbsp;<a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.&nbsp;
Sector-wise, the Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) plummeted, down over 4%, while the Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) managed to trim losses, down only by 0.3%. 
<h3 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h3>
<ul>
<li>Deckers Outdoor Corp. tumbled 6.8%, marking the worst performance among S&amp;P 500 stocks, after Truist Securities downgraded the company from Buy to Hold and lowered the price target from $983 to $864. </li>
<li>Extra Space Storage Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXR#NYSE">EXR</a>), SBA Communications Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SBAC#NYSE">SBAC</a>), Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>) American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>), were the weakest real estate stocks within the S&amp;P 500, each down by about 6%. </li>
<li>Nvidia Corp. rose 1.7%, marking the best performance within the Nasdaq 100, as Morgan Stanley raised the chipmaker&#8217;s price target to $1,000.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell nearly 3%, representing the worst performance within the Dow Jones, as the company reported a 36.2% and 66.7% annual declines in commercial and defense shipments, respectively. Morgan Stanley and Stifel cut price targets on the stock. </li>
<li>Delta Air Lines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>)&nbsp;reported better-than-expected first-quarter earnings, buoyed by strong travel demand. Shares fell 0.9%. </li>
<li>Hexcel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HXL#NYSE">HXL</a>) tumbled over 11%, following the unexpected announcement late Tuesday of the appointment of Thomas C. Gentile III as chief executive officer and president.</li>
<li>Regional banks fell sharply following the hot inflation data, with Flushing Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NYSE">FFIC</a>), Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>) and ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>) each falling by 8%</li>
</ul>
Read now: <a href="https://www.benzinga.com/general/entertainment/24/04/38184776/amc-ceo-says-bankruptcy-is-inconceivable-as-shares-hit-52-week-lows-2025-2026-are-going-to-">AMC CEO Says Bankruptcy Is &#8216;Inconceivable&#8217; As Shares Hit 52-Week Lows: &#8216;2025, 2026 Are Going To Be Gangbusters&#8217;</a>
Photo via Shutterstock.

Stocks Sink On Worrisome Inflation Data, Yields Spike On Rate Cut Delays, Dollar Rallies: What's Driving Markets Wednesday?

A fresh unexpected surge in inflation blindsided markets, shattering hopes for imminent Fed rate cuts and sending stocks down across the board. In March 2024, the annual Consumer Price Index (CPI) inflation rate surged to 3.5%, up from February&#8217;s 3.2%, surpassing <a href="https://www.benzinga.com/markets/commodities/24/04/38181302/inflation-rises-more-than-expected-to-3-5-in-march-derails-june-rate-cut-hopes">expectations set at 3.4%. </a>
Adding to concerns, core inflation, which excludes energy and food, also exceeded expectations, reaching 3.8% compared to the anticipated 3.7%, dismissing any justifications solely attributed to higher gasoline price pressures. 
Consequently, investors sharply revised down their expectations for Fed rate cuts, now anticipating the commencement of any easing policy no earlier than September, with less than two rate cuts expected by year-end.
<h3 class="wp-block-heading">What&#8217;s Hot/Cold In The CPI Basket?</h3>
Expenditure categories witnessing the highest month-over-month seasonally adjusted price increase in March were: 
<ul>
<li>Motor vehicle insurance: +2.6%</li>
<li>Motor vehicle maintenance and repair: +1.7%</li>
<li>Gasoline (all types): +1.7%</li>
<li>Hospital services: +1%</li>
<li>Meats, poultry, fish, and eggs: +0.9%</li>
</ul>
Those showing the lowest monthly inflation were: 
<ul>
<li>Fuel oil: down 1.3%</li>
<li>Used cars and trucks: down 1.1%</li>
<li>Cereals and bakery products: down 0.9%</li>
<li>Other food at home: down 0.5%</li>
<li>Airline fares: down 0.4%</li>
</ul>
<h3 class="wp-block-heading">Wednesday&#8217;s Sector Performance </h3>
By midday trading in New York, losses were broad-based within indices. 
<ul>
<li>454 out of S&amp;P 500 stocks traded in the red</li>
<li>93 Nasdaq 100 stocks were negative</li>
<li>1,783 out of Russell 2000 stocks were negative</li>
<li>898 out of Russell 1000 stocks were negative</li>
</ul>
No sectors managed to evade daily losses, with rate-sensitive pockets of the markets, such as real estate, feeling the brunt more acutely than others.
Energy managed to hold almost steady, as rising gasoline prices improved the outlook for oil companies. 
<figure class="wp-block-table is-style-stripes"> 
<table>
<thead>
<tr>
<th>Sector</th>
<th>1-Day %Chg</th>
</tr>
</thead>
<tbody>
<tr>
<td> Energy&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>)</td>
<td>-0.15%</td>
</tr>
<tr>
<td>Consumer Staples&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLP#NYSE">XLP</a>)</td>
<td>-0.75%</td>
</tr>
<tr>
<td>Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>)</td>
<td>-0.92%</td>
</tr>
<tr>
<td>Industrials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLI#NYSE">XLI</a>)</td>
<td>-0.93%</td>
</tr>
<tr>
<td>Health Care&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>)</td>
<td>-1.07%</td>
</tr>
<tr>
<td>Financial Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLF#NYSE">XLF</a>)</td>
<td>-1.17%</td>
</tr>
<tr>
<td>Technology Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>)</td>
<td>-1.35%</td>
</tr>
<tr>
<td>Consumer Discretionary&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)</td>
<td>-1.44%</td>
</tr>
<tr>
<td>Materials&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLB#NYSE">XLB</a>)</td>
<td>-1.54%</td>
</tr>
<tr>
<td>Utilities Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>)</td>
<td>-1.93%</td>
</tr>
<tr>
<td>Real Estate&nbsp;Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>)</td>
<td>-3.85%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated At 11:40 a.m. ET</figcaption></figure>
Nine real-estate stocks tumbled by more than 7%: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Opendoor Technologies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPEN#NYSE">OPEN</a>)</td>
<td>-10.04%</td>
</tr>
<tr>
<td>Global Net Lease, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GNL#NYSE">GNL</a>)</td>
<td>-9.83%</td>
</tr>
<tr>
<td>Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>)</td>
<td>-9.26%</td>
</tr>
<tr>
<td>Hudson Pacific Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HPP#NYSE">HPP</a>)</td>
<td>-8.82%</td>
</tr>
<tr>
<td>Anywhere Real Estate Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HOUS#NYSE">HOUS</a>)</td>
<td>-8.36%</td>
</tr>
<tr>
<td>Piedmont Office Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PDM#NYSE">PDM</a>)</td>
<td>-7.77%</td>
</tr>
<tr>
<td>RE/MAX Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RMAX#NYSE">RMAX</a>)</td>
<td>-7.75%</td>
</tr>
<tr>
<td>eXp World Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXPI#NYSE">EXPI</a>)</td>
<td>-7.63%</td>
</tr>
<tr>
<td>Douglas Emmett, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEI#NYSE">DEI</a>)</td>
<td>-7.44%</td>
</tr>
<tr>
<td>Office Properties Income Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NYSE">OPI</a>)</td>
<td>-7.31%</td>
</tr>
</tbody>
</table>
</figure>
Looking at different industries, regional banks and solar stocks fell the most. 
<ul>
<li>The SPDR S&amp;P Regional Bank ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) fell 4.7%, on track for the worst day since late January. </li>
<li>The Invesco Solar ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAN#NYSE">TAN</a>) fell 4.5%</li>
</ul>
Eight regional bank stocks tumbled more than 7% Wednesday: 
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day %</td>
</tr>
<tr>
<td>Lakeland Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NYSE">LBAI</a>)</td>
<td>-8.96%</td>
</tr>
<tr>
<td>Provident Financial Services, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>)</td>
<td>-8.84%</td>
</tr>
<tr>
<td>Valley National Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NYSE">VLY</a>)</td>
<td>-8.44%</td>
</tr>
<tr>
<td>ServisFirst Bancshares, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SFBS#NYSE">SFBS</a>)</td>
<td>-7.81%</td>
</tr>
<tr>
<td>New York Community Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>)</td>
<td>-7.61%</td>
</tr>
<tr>
<td>OceanFirst Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFC#NYSE">OCFC</a>)</td>
<td>-7.58%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NYSE">FFIC</a>)</td>
<td>-7.53%</td>
</tr>
<tr>
<td>Eagle Bancorp, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EGBN#NYSE">EGBN</a>)</td>
<td>-7.50%</td>
</tr>
</tbody>
</table>
</figure>
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38186082/this-puts-the-fed-in-quite-a-tricky-position-7-economists-weigh-in-on-march-inflati">&#8216;This Puts The Fed In Quite A Tricky Position&#8217;: 7 Economists Weigh In On March Inflation Report</a>
Image generated using artificial intelligence via Midjourney.

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Shares of companies in the broader financial sector are trading lower amid overall market weakness following hotter-than-expected March inflation data.

Keefe, Bruyette &amp; Woods analyst Christopher O'Connell maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Market Perform and lowers the price target from $15.5 to $14.

Keefe, Bruyette & Woods Maintains Market Perform on Flushing Financial, Lowers Price Target to $14

DA Davidson analyst Manuel Navas maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Neutral and lowers the price target from $17 to $13.5.

DA Davidson Maintains Neutral on Flushing Financial, Lowers Price Target to $13.5

New York Community Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYCB#NYSE">NYCB</a>) finds itself in the eye of the storm once again. 
On Thursday, the bank publicly acknowledged a &#8220;material weakness&#8221; in its internal controls concerning loan review processes. This admission was accompanied by a major leadership change at the top, highlighting a period of <a href="https://www.benzinga.com/news/24/02/37408849/new-york-community-bancorp-stock-nosedives-after-bank-identifies-material-weakness-in-internal-contr">upheaval for the company.</a>
The bank cited &#8220;ineffective oversight, risk assessment, and monitoring activities&#8221; as the root of the issues and promised to outline a remediation plan in its forthcoming annual report to the U.S. Securities and Exchange Commission within the next 15 days.
Thomas R. Cangemi, the former CEO, stepped down immediately after 27 years at the helm of the bank but will continue to serve on the board. The bank has appointed Alessandro DiNello as the new President and CEO and Marshall Lux as the Presiding Director of the Board.
Following these announcements, New York Community&#8217;s shares plummeted by over 20% shortly after the market opened on Friday. The move dragged down the broader regional bank industry, with the SPDR Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>) down over 3%. 
Among the holdings in the KRE ETF, the table below shows the worst-performing regional bank stocks, excluding NYCB, at 10 a.m. ET on Friday.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Name</td>
<td>1-Day Chg %</td>
</tr>
<tr>
<td>Metropolitan Bank Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCB#NASDAQ">MCB</a>)</td>
<td>-5.02%</td>
</tr>
<tr>
<td>Flushing Financial Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>)</td>
<td>-4.28%</td>
</tr>
<tr>
<td>Dime Community Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>)</td>
<td>-4.27%</td>
</tr>
<tr>
<td>First Foundation Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) </td>
<td>-4.16%</td>
</tr>
<tr>
<td>Valley National Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>)</td>
<td>-4.15%</td>
</tr>
<tr>
<td>Axos Financial, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AX#NYSE">AX</a>)</td>
<td>-3.86%</td>
</tr>
<tr>
<td>M&amp;T Bank Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>)</td>
<td>-3.63%</td>
</tr>
<tr>
<td>Pinnacle Financial Partners, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNFP#NASDAQ">PNFP</a>)</td>
<td>-3.60%</td>
</tr>
<tr>
<td>Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>)</td>
<td>-3.54%</td>
</tr>
<tr>
<td>Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>)</td>
<td>-3.43%</td>
</tr>
</tbody>
</table>
</figure>
<h3 class="wp-block-heading">NYCB Tumbles: Analyst Reactions</h3>
&#8220;Uncertainty is the enemy of bank stock investing. And, without a doubt, the situation feels a bit uncertain at NYCB right now,&#8221; Piper Sandler analyst Mark Fitzgibbon, said. The analyst described the control weaknesses as the &#8220;most worrisome&#8221; issue, leading him to downgrade the stock from Overweight to Neutral. Piper Sandler expressed concern over potential further issues under the new leadership.
JPMorgan maintained a Neutral rating on the stock, citing a risk profile that remains outside a &#8220;comfort zone.&#8221;
David J. Chiaverini, CFA from Wedbush, highlighted that the internal control review might necessitate additional reserves, especially for the company&#8217;s exposure to NYC&#8217;s rent-regulated multifamily sector. Consequently, Wedbush lowered its core EPS estimates for 2024/2025 from 80 cents/90 cent to 55 cents/65 cents and reduced the price target from $5 to $3.50.
<h3 class="wp-block-heading">NYCB Tumbles: Regional Bank Movers</h3>
The issues at NYCB have raised broader concerns about the banking sector&#8217;s exposure to real estate loans, particularly to the office-related sector. 
According to a recent <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/36967797/new-york-community-bancorp-plummets-to-26-year-lows-on-commercial-real-estate-fears">Goldman Sachs analysis</a>, NYCB&#8217;s commercial real estate loans make up 56% of its total loan portfolio, significantly higher than the 18% average for the regional banks under their coverage.
Other banks with a substantial commercial real estate exposure – above 20% of total loans – include First Hawaiian Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FHB#NASDAQ">FHB</a>), Synovus Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNV#NYSE">SNV</a>), United Bankshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UBSI#NASDAQ">UBSI</a>), First Horizon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHN#NYSE">FHN</a>), and Citizens Financial Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFG#NYSE">CFG</a>). 
Read now: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/02/37217267/banking-giants-confront-rising-delinquencies-in-commercial-real-estate-sector">Banking Giants Confront Rising Delinquencies In Commercial Real Estate Sector</a>
Photo: Shutterstock

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Turmoil At New York Community Bancorp: Shares Tumble Over 20%, Regional Bank Investors Pull Back

Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) reported quarterly Adj earnings of $0.25 per share which beat the analyst consensus estimate of $0.23 by 8.7 percent. This is a 56.14 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $53.49 million which beat the analyst consensus estimate of $48.12 million by 11.15 percent. This is a 14.90 percent increase over sales of $46.55 million the same period last year.

Flushing Financial Q4 Adj EPS $0.25 Beats $0.23 Estimate, Sales $53.49M Beat $48.12M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Nokia (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOK#NYSE">NOK</a>) is projected to report quarterly earnings at $0.15 per share on revenue of $7.05 billion.
&bull; Popular (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPOP#NASDAQ">BPOP</a>) is likely to report quarterly earnings at $1.61 per share on revenue of $538.72 million.
&bull; Carpenter Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRS#NYSE">CRS</a>) is estimated to report quarterly earnings at $0.85 per share on revenue of $657.10 million.
&bull; Berkshire Hills Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BHLB#NYSE">BHLB</a>) is estimated to report quarterly earnings at $0.49 per share on revenue of $94.52 million.
&bull; NetScout Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTCT#NASDAQ">NTCT</a>) is projected to report quarterly earnings at $0.37 per share on revenue of $198.38 million.
&bull; NextEra Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>) is expected to report quarterly earnings at $0.49 per share on revenue of $5.70 billion.
&bull; Virtu Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VIRT#NASDAQ">VIRT</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $286.54 million.
&bull; Blackstone (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>) is estimated to report quarterly earnings at $0.96 per share on revenue of $2.57 billion.
&bull; Global X Guru Index ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GURU#NYSE">GURU</a>) is estimated to report earnings for its fourth quarter.
&bull; Bread Finl Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BFH#NYSE">BFH</a>) is projected to report quarterly loss at $0.84 per share on revenue of $988.92 million.
&bull; MarineMax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HZO#NYSE">HZO</a>) is projected to report quarterly earnings at $0.50 per share on revenue of $521.28 million.
&bull; Southwest Airlines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $6.74 billion.
&bull; CNX Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNX#NYSE">CNX</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $400.13 million.
&bull; Humana (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>) is expected to report quarterly earnings at $1.82 per share on revenue of $25.39 billion.
&bull; Valero Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLO#NYSE">VLO</a>) is expected to report quarterly earnings at $2.95 per share on revenue of $35.69 billion.
&bull; McCormick &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MKC#NYSE">MKC</a>) is estimated to report quarterly earnings at $0.79 per share on revenue of $1.79 billion.
&bull; Murphy Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MUR#NYSE">MUR</a>) is likely to report quarterly earnings at $1.00 per share on revenue of $855.99 million.
&bull; Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) is estimated to report quarterly loss at $0.08 per share on revenue of $170.60 million.
&bull; STMicroelectronics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STM#NYSE">STM</a>) is likely to report quarterly earnings at $0.95 per share on revenue of $4.31 billion.
&bull; Lakeland Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBAI#NASDAQ">LBAI</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $73.80 million.
&bull; Heritage Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HFWA#NASDAQ">HFWA</a>) is estimated to report quarterly earnings at $0.45 per share on revenue of $62.03 million.
&bull; Union Pacific (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNP#NYSE">UNP</a>) is likely to report quarterly earnings at $2.57 per share on revenue of $6.05 billion.
&bull; S&amp;T Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STBA#NASDAQ">STBA</a>) is likely to report quarterly earnings at $0.86 per share on revenue of $99.77 million.
&bull; LSI Industries (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LYTS#NASDAQ">LYTS</a>) is expected to report quarterly earnings at $0.17 per share on revenue of $114.67 million.
&bull; Comcast (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>) is likely to report quarterly earnings at $0.79 per share on revenue of $30.50 billion.
&bull; Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) is likely to report quarterly earnings at $5.80 per share on revenue of $10.44 billion.
&bull; Mobileye Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) is projected to report quarterly earnings at $0.27 per share on revenue of $639.80 million.
&bull; Dow (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $10.37 billion.
&bull; Xerox Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XRX#NASDAQ">XRX</a>) is estimated to report quarterly earnings at $0.53 per share on revenue of $1.79 billion.
&bull; Old Republic Intl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORI#NYSE">ORI</a>) is projected to report quarterly earnings at $0.71 per share on revenue of $1.97 billion.
&bull; OSI Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OSIS#NASDAQ">OSIS</a>) is projected to report quarterly earnings at $1.74 per share on revenue of $362.55 million.
&bull; Sherwin-Williams (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHW#NYSE">SHW</a>) is likely to report quarterly earnings at $1.80 per share on revenue of $5.22 billion.
&bull; Marsh &amp; McLennan (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMC#NYSE">MMC</a>) is expected to report quarterly earnings at $1.63 per share on revenue of $5.54 billion.
&bull; TAL Education (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAL#NYSE">TAL</a>) is projected to report quarterly earnings at $0.02 per share on revenue of $331.17 million.
&bull; Valley Ntl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VLY#NASDAQ">VLY</a>) is estimated to report quarterly earnings at $0.25 per share on revenue of $468.14 million.
&bull; Applied Industrial Techs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIT#NYSE">AIT</a>) is likely to report quarterly earnings at $2.11 per share on revenue of $1.06 billion.
&bull; American Airlines Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) is expected to report quarterly earnings at $0.10 per share on revenue of $13.02 billion.
&bull; NextEra Energy Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEP#NYSE">NEP</a>) is expected to report quarterly earnings at $0.16 per share on revenue of $343.45 million.
&bull; Alaska Air Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALK#NYSE">ALK</a>) is estimated to report quarterly earnings at $0.18 per share on revenue of $2.55 billion.
&bull; ConnectOne Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNOB#NASDAQ">CNOB</a>) is likely to report quarterly earnings at $0.45 per share on revenue of $63.03 million.
&bull; Amalgamated Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMAL#NASDAQ">AMAL</a>) is likely to report quarterly earnings at $0.72 per share on revenue of $71.39 million.
&bull; Eagle Materials (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EXP#NYSE">EXP</a>) is likely to report quarterly earnings at $3.55 per share on revenue of $536.57 million.
&bull; First Foundation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FFWM#NYSE">FFWM</a>) is estimated to report quarterly earnings at $0.03 per share on revenue of $62.81 million.
&bull; RPC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RES#NYSE">RES</a>) is likely to report quarterly earnings at $0.18 per share on revenue of $370.73 million.
&bull; Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBCP#NASDAQ">IBCP</a>) is likely to report quarterly earnings at $0.70 per share on revenue of $40.11 million.
&bull; Xcel Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XEL#NASDAQ">XEL</a>) is estimated to report quarterly earnings at $0.85 per share on revenue of $4.01 billion.
&bull; First Merchants (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRME#NASDAQ">FRME</a>) is expected to report quarterly earnings at $0.87 per share on revenue of $165.48 million.
&bull; Lakeland Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LKFN#NASDAQ">LKFN</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $59.98 million.
&bull; Marine Prods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MPX#NYSE">MPX</a>) is expected to report quarterly earnings at $0.19 per share on revenue of $54.78 million.
&bull; West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WTBA#NASDAQ">WTBA</a>) is projected to report quarterly earnings at $0.31 per share on revenue of $18.82 million.
<h3>Companies Reporting After The Bell</h3>
&bull; Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) is projected to report quarterly earnings at $1.88 per share on revenue of $699.44 million.
&bull; Glacier Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GBCI#NYSE">GBCI</a>) is likely to report quarterly earnings at $0.41 per share on revenue of $167.16 million.
&bull; Federated Hermes (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FHI#NYSE">FHI</a>) is expected to report quarterly earnings at $0.83 per share on revenue of $396.98 million.
&bull; CVRx (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVRX#NASDAQ">CVRX</a>) is expected to report quarterly loss at $0.54 per share on revenue of $11.14 million.
&bull; Fair Isaac (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) is estimated to report quarterly earnings at $5.06 per share on revenue of $390.89 million.
&bull; Levi Strauss (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LEVI#NYSE">LEVI</a>) is likely to report quarterly earnings at $0.43 per share on revenue of $1.66 billion.
&bull; Western Digital (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) is estimated to report quarterly loss at $1.13 per share on revenue of $2.99 billion.
&bull; AppFolio (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPF#NASDAQ">APPF</a>) is expected to report quarterly earnings at $0.72 per share on revenue of $162.71 million.
&bull; Visa (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/V#NYSE">V</a>) is projected to report quarterly earnings at $2.34 per share on revenue of $8.54 billion.
&bull; L3Harris Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) is estimated to report quarterly earnings at $3.31 per share on revenue of $5.29 billion.
&bull; Marten Transport (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRTN#NASDAQ">MRTN</a>) is projected to report quarterly earnings at $0.18 per share on revenue of $271.62 million.
&bull; Taro Pharmaceutical Indus (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TARO#NYSE">TARO</a>) is projected to report quarterly earnings at $0.30 per share on revenue of $154.91 million.
&bull; First of Long Island (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FLIC#NASDAQ">FLIC</a>) is expected to report quarterly earnings at $0.25 per share on revenue of $23.21 million.
&bull; USCB Financial Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/USCB#NASDAQ">USCB</a>) is estimated to report quarterly earnings at $0.22 per share on revenue of $17.25 million.
&bull; Third Coast Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBX#NASDAQ">TCBX</a>) is projected to report quarterly earnings at $0.48 per share on revenue of $38.13 million.
&bull; First Western Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MYFW#NASDAQ">MYFW</a>) is estimated to report quarterly earnings at $0.32 per share on revenue of $23.83 million.
&bull; Byline Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BY#NYSE">BY</a>) is expected to report quarterly earnings at $0.67 per share on revenue of $101.40 million.
&bull; T-Mobile US (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) is projected to report quarterly earnings at $1.90 per share on revenue of $19.64 billion.
&bull; KLA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KLAC#NASDAQ">KLAC</a>) is projected to report quarterly earnings at $5.91 per share on revenue of $2.46 billion.
&bull; SouthState (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SSB#NYSE">SSB</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $417.72 million.
&bull; Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) is expected to report quarterly earnings at $0.45 per share on revenue of $15.16 billion.
&bull; Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is estimated to report quarterly earnings at $0.23 per share on revenue of $48.12 million.
&bull; Weyerhaeuser (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WY#NYSE">WY</a>) is estimated to report quarterly earnings at $0.17 per share on revenue of $1.86 billion.
&bull; First Financial Bancor (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFBC#NASDAQ">FFBC</a>) is expected to report quarterly earnings at $0.61 per share on revenue of $207.32 million.
&bull; Arthur J. Gallagher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AJG#NYSE">AJG</a>) is likely to report quarterly earnings at $1.85 per share on revenue of $2.36 billion.
&bull; Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) is likely to report quarterly earnings at $2.64 per share on revenue of $9.46 billion.
&bull; Financial Institutions (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FISI#NASDAQ">FISI</a>) is likely to report quarterly earnings at $0.71 per share on revenue of $40.32 million.
&bull; Ameris (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABCB#NASDAQ">ABCB</a>) is projected to report quarterly earnings at $1.10 per share on revenue of $264.66 million.
&bull; Hilltop Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HTH#NYSE">HTH</a>) is likely to report quarterly earnings at $0.40 per share on revenue of $113.80 million.
&bull; MidWestOne Financial Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MOFG#NASDAQ">MOFG</a>) is likely to report quarterly earnings at $0.49 per share on revenue of $34.02 million.
&bull; Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TBBK#NASDAQ">TBBK</a>) is projected to report quarterly earnings at $0.95 per share on revenue of $90.65 million.
&bull; Customers Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CUBI#NYSE">CUBI</a>) is likely to report quarterly earnings at $1.72 per share on revenue of $173.26 million.
&bull; WSFS Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WSFS#NASDAQ">WSFS</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $177.61 million.
&bull; Olin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLN#NYSE">OLN</a>) is likely to report quarterly earnings at $0.19 per share on revenue of $1.52 billion.
&bull; Primis Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRST#NASDAQ">FRST</a>) is expected to report quarterly earnings at $0.28 per share on revenue of $27.05 million.
&bull; Provident Finl Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFS#NYSE">PFS</a>) is projected to report quarterly earnings at $0.41 per share on revenue of $94.12 million.
&bull; Seacoast Banking (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBCF#NASDAQ">SBCF</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $135.57 million.
&bull; GSI Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSIT#NASDAQ">GSIT</a>) is expected to report earnings for its third quarter.
&bull; Associated Banc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASB#NYSE">ASB</a>) is projected to report quarterly earnings at $0.52 per share on revenue of $275.24 million.
&bull; Midland States Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSBI#NASDAQ">MSBI</a>) is expected to report quarterly earnings at $0.79 per share on revenue of $75.49 million.
&bull; SB Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBFG#NASDAQ">SBFG</a>) is expected to report quarterly earnings at $0.35 per share on revenue of $9.40 million.
&bull; Eastern Bankshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EBC#NASDAQ">EBC</a>) is likely to report quarterly earnings at $0.20 per share on revenue of $129.71 million.
&bull; BayFirst Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BAFN#NASDAQ">BAFN</a>) is likely to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For January 25, 2024

Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) is set to give its latest quarterly earnings report on Thursday, 2024-01-25. Here's what investors need to know before the announcement.
Analysts estimate that Flushing Financial will report an earnings per share (EPS) of $0.23. 
Flushing Financial bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.07, which was followed by a 1.22% increase in the share price the next day.
Here's a look at Flushing Financial's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.24</td>
<td>0.19</td>
<td>0.32</td>
<td>0.50</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.31</td>
<td>0.26</td>
<td>0.10</td>
<td>0.57</td>
</tr>
<tr>
<td>Price Change %</td>
<td>1.22%</td>
<td>16.74%</td>
<td>-5.22%</td>
<td>-7.46%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706122865_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Flushing Financial were trading at $16.51 as of January 23. Over the last 52-week period, shares are down 15.11%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/FFIC/earnings">To track all earnings releases for Flushing Financial visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Flushing Financial

At the end of January 12, 2024, Washington Trust Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WASH#NASDAQ">WASH</a>) will reward its shareholders with a dividend payout of $0.56 per share, demonstrating an annualized dividend yield of 7.00%. Remember, only investors who held the stock before the ex-dividend date on December 29, 2023 will receive this payout.
<h3>Washington Trust Bancorp Recent Dividend Payouts</h3>
<style>
 table {
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 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
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 }

 th {
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 }

 .dividend-frequency {
 font-size: 12px;
 color: #6c757d;
 }
 </style><table>
<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2023-12-29</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>7.0%</td>
<td>2023-12-22</td>
<td>2024-01-02</td>
<td>2024-01-12</td>
</tr>
<tr>
<td>2023-09-29</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>8.34%</td>
<td>2023-09-21</td>
<td>2023-10-02</td>
<td>2023-10-12</td>
</tr>
<tr>
<td>2023-06-30</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>7.99%</td>
<td>2023-06-15</td>
<td>2023-07-03</td>
<td>2023-07-13</td>
</tr>
<tr>
<td>2023-03-31</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>6.43%</td>
<td>2023-03-16</td>
<td>2023-04-03</td>
<td>2023-04-13</td>
</tr>
<tr>
<td>2022-12-30</td>
<td style="text-align: right;">4</td>
<td>$0.56</td>
<td>4.67%</td>
<td>2022-12-15</td>
<td>2023-01-03</td>
<td>2023-01-06</td>
</tr>
<tr>
<td>2022-09-30</td>
<td style="text-align: right;">4</td>
<td>$0.54</td>
<td>4.42%</td>
<td>2022-09-15</td>
<td>2022-10-03</td>
<td>2022-10-07</td>
</tr>
<tr>
<td>2022-06-30</td>
<td style="text-align: right;">4</td>
<td>$0.54</td>
<td>4.4%</td>
<td>2022-06-16</td>
<td>2022-07-01</td>
<td>2022-07-08</td>
</tr>
<tr>
<td>2022-03-31</td>
<td style="text-align: right;">4</td>
<td>$0.54</td>
<td>3.99%</td>
<td>2022-03-17</td>
<td>2022-04-01</td>
<td>2022-04-08</td>
</tr>
<tr>
<td>2021-12-31</td>
<td style="text-align: right;">4</td>
<td>$0.54</td>
<td>3.94%</td>
<td>2021-12-16</td>
<td>2022-01-03</td>
<td>2022-01-07</td>
</tr>
<tr>
<td>2021-09-30</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>4.13%</td>
<td>2021-09-16</td>
<td>2021-10-01</td>
<td>2021-10-08</td>
</tr>
<tr>
<td>2021-06-30</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>3.77%</td>
<td>2021-06-17</td>
<td>2021-07-01</td>
<td>2021-07-09</td>
</tr>
<tr>
<td>2021-03-31</td>
<td style="text-align: right;">4</td>
<td>$0.52</td>
<td>3.98%</td>
<td>2021-03-18</td>
<td>2021-04-01</td>
<td>2021-04-09</td>
</tr>
</tbody>
</table>
In the realm of dividend yield, Washington Trust Bancorp reigns supreme among its industry peers, surpassing Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with an annualized dividend yield of 5.51%.
<h3>Analyzing Washington Trust Bancorp Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1705071911_0.png" alt="dividend chart graph" />
The company demonstrated a positive dividend growth pattern from 2020 to 2023, with the dividend per share rising from $2.05 to $2.24. This signifies the company's commitment to consistently increasing shareholder dividends.
<h3>YoY Earnings Growth For Washington Trust Bancorp</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1705071911_1.png" alt="earning chart graph" />
The earnings chart above reveals a decrease in Washington Trust Bancorp's earnings per share, declining from $3.84 in 2020 to $3.00 in 2023. This could raise concerns for income-seeking investors, as it suggests a decline in the company's profitability. It is crucial to closely monitor the situation and assess the factors contributing to this decrease, as it may have implications for future cash dividend payouts.
<h3>Recap</h3>
This article takes an in-depth look at Washington Trust Bancorp's recent dividend payout and its implications for shareholders. The company is currently distributing a dividend of $0.56 per share today, translating to an annualized dividend yield of 7.00%.
In the realm of dividend yield, Washington Trust Bancorp reigns supreme among its industry peers, surpassing Flushing Financial with an annualized dividend yield of 5.51%.
With dividend per share increasing and earnings per share decreasing from 2020 to 2023, Washington Trust Bancorp seems to be emphasizing the distribution of profits to investors despite the decline in profitability.
Keeping a vigilant eye on the company's performance in the coming quarters will allow investors to stay current with any variations in financials or dividend disbursements.
[Click here](<a href="https://www.benzinga.com/stock//dividends" title="https://www.benzinga.com/stock//dividends">https://www.benzinga.com/stock//dividends</a>) to find details on Washington Trust Bancorp's previous dividends.
To keep track of which companies are distributing dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Dividends

WASH

Commitment to Shareholders amid Decreased Earnings: Washington Trust Bancorp Ensures Steady Distribution

Raymond James analyst Steve Moss maintains Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) with a Outperform and raises the price target from $17 to $19.

Raymond James Maintains Outperform on Flushing Financial, Raises Price Target to $19

By the close of today, December 22, 2023, Flushing Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FFIC#NASDAQ">FFIC</a>) will issue a dividend payout of $0.22 per share, resulting in an annualized dividend yield of 6.16%. This payout is exclusively for shareholders who held the stock before the ex-dividend date on December 07, 2023.
<h3>Flushing Financial Recent Dividend Payouts</h3>
<style>
 table {
 width: 100%;
 border-collapse: collapse;
 font-family: Arial, sans-serif;
 font-size: 14px;
 }

 th, td {
 padding: 8px;
 text-align: left;
 }

 th {
 background-color: #293a5a;
 color: #fff;
 text-align: left;
 }

 tr:nth-child(even) {
 background-color: #f2f4f8;
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 tr:hover {
 background-color: #e1e4ea;
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 td:nth-child(3), td:nth-child(5) {
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 font-weight: bold;
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 .dividend-frequency {
 font-size: 12px;
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 </style><table>
<thead>
<tr>
<th>Ex-Date</th>
<th style="text-align: right;">Payments per year</th>
<th>Dividend</th>
<th>Yield</th>
<th>Announced</th>
<th>Record</th>
<th>Payable</th>
</tr>
</thead>
<tbody>
<tr>
<td>2023-12-07</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>6.16%</td>
<td>2023-11-21</td>
<td>2023-12-08</td>
<td>2023-12-22</td>
</tr>
<tr>
<td>2023-09-07</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>5.74%</td>
<td>2023-08-15</td>
<td>2023-09-08</td>
<td>2023-09-29</td>
</tr>
<tr>
<td>2023-06-01</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>9.02%</td>
<td>2023-05-16</td>
<td>2023-06-02</td>
<td>2023-06-23</td>
</tr>
<tr>
<td>2023-03-09</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>4.48%</td>
<td>2023-02-23</td>
<td>2023-03-10</td>
<td>2023-03-31</td>
</tr>
<tr>
<td>2022-12-08</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>4.22%</td>
<td>2022-11-22</td>
<td>2022-12-09</td>
<td>2022-12-23</td>
</tr>
<tr>
<td>2022-09-01</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>3.86%</td>
<td>2022-08-16</td>
<td>2022-09-02</td>
<td>2022-09-30</td>
</tr>
<tr>
<td>2022-06-02</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>4.01%</td>
<td>2022-05-17</td>
<td>2022-06-03</td>
<td>2022-06-24</td>
</tr>
<tr>
<td>2022-03-10</td>
<td style="text-align: right;">4</td>
<td>$0.22</td>
<td>3.68%</td>
<td>2022-02-23</td>
<td>2022-03-11</td>
<td>2022-03-25</td>
</tr>
<tr>
<td>2021-12-09</td>
<td style="text-align: right;">4</td>
<td>$0.21</td>
<td>3.47%</td>
<td>2021-11-23</td>
<td>2021-12-10</td>
<td>2021-12-31</td>
</tr>
<tr>
<td>2021-09-02</td>
<td style="text-align: right;">4</td>
<td>$0.21</td>
<td>3.68%</td>
<td>2021-08-17</td>
<td>2021-09-03</td>
<td>2021-09-24</td>
</tr>
<tr>
<td>2021-06-03</td>
<td style="text-align: right;">4</td>
<td>$0.21</td>
<td>3.52%</td>
<td>2021-05-18</td>
<td>2021-06-04</td>
<td>2021-06-25</td>
</tr>
<tr>
<td>2021-03-11</td>
<td style="text-align: right;">4</td>
<td>$0.21</td>
<td>3.97%</td>
<td>2021-02-23</td>
<td>2021-03-12</td>
<td>2021-03-26</td>
</tr>
</tbody>
</table>
Flushing Financial is the leader in terms of dividend yield compared to its industry peers, with Central Pacific Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPF#NYSE">CPF</a>) having the highest annualized dividend yield at 5.27%.
<h3>Analyzing Flushing Financial Financial Health</h3>
Companies that pay out steady cash dividends are attractive to income-seeking investors, and companies that are financially healthy tend to maintain their dividend payout schedule. For this reason, investors can find it insightful to see if a company has been increasing or decreasing their dividend payout schedule and if their earnings are growing. 
<h3>YoY Growth in Dividend Per Share</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1703257535_0.png" alt="dividend chart graph" />
From 2019 to 2022, the company's dividend per share showed a positive trend, increasing steadily from $0.84 in 2019 to $0.88 in 2022. This demonstrates the company's commitment to rewarding shareholders by consistently raising dividends.
<h3>YoY Earnings Growth For Flushing Financial</h3>
<img src="https://www.benzinga.com/files/images/story/2023/1703257535_1.png" alt="earning chart graph" />
The earnings chart above shows that from 2019 to 2022, Flushing Financial has experienced an increase in their earnings from $1.77 per share to $2.60 per share. This positive earnings trend is promising for income-seeking investors as it suggests that the company has more potential to increase its cash dividend payout if the trend continues.
<h3>Recap</h3>
In this article, we explore the recent dividend payout of Flushing Financial and its significance for shareholders. The company has decided to distribute a dividend of $0.22 per share today, which equates to an annualized dividend yield of 6.16%.
Flushing Financial is the leader in terms of dividend yield compared to its industry peers, with Central Pacific Financial having the highest annualized dividend yield at 5.27%.
The increase in both dividend per share and earnings per share from 2019 to 2022 for Flushing Financial indicates a positive financial trend, suggesting their capacity to continue distributing profits to shareholders.
Keeping a close watch on the company's performance in the coming quarters will enable investors to stay abreast of any modifications in financials or dividend disbursements.
[Monitor live stock price updates for Flushing Financial on Benzinga.](https://www.benzinga.com/quote/Flushing Financial (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ffic#NASDAQ">FFIC</a>))
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exceeding Expectations: Flushing Financial Achieves Strong Performance and Rewards Investors

Flushing Financial: Disappointing Earnings But Loan Book Remains Strong

Flushing Financial Non-GAAP EPS of $0.18 in-line, revenue of $46.99M misses by $0.16M

Flushing Financial (FFIC) just unveiled an update. Flushing Financial Corp. has released its earnings presentation for the second quarter of 2024, ...

Flushing Financial Q2 2024 Earnings Overview Released

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Flushing Financial (NASDAQ:<a href="https://investorplace.com/stock-quotes/ffic-stock-quote/">FFIC</a>) just reported results for the second quarter of 2024.<ul><li>Flushing Financial reported earnings per share of 18 cents. This met the analyst estimate for EPS of 18 cents.</li><li>The company reported revenue of $46.99 million.</li><li>This was 0.34% worse than the analyst estimate for revenue of $47.15 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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									</ul>The post <a href="https://investorplace.com/earning-results/2024/07/ffic-stock-earnings-flushing-financial-for-q2-of-2024/">FFIC Stock Earnings: Flushing Financial Meets EPS, Misses Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

FFIC Stock Earnings: Flushing Financial Meets EPS, Misses Revenue for Q2 2024

KBW Remains a Hold on Flushing Financial (FFIC)

Flushing Financial Corporation (FFIC) Q2 2024 Earnings Call Transcript

Warning: FFIC is at high risk of performing badly

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