Flushing Financial (NASDAQ:FFIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a hold rating in a report released on Monday.

A number of other analysts also recently issued reports on FFIC. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Raymond James increased their price objective on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $15.50.

Flushing Financial Stock Up 0.2 %

Shares of NASDAQ:FFIC opened at $16.22 on Monday. The business has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $13.49. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a market cap of $471.50 million, a P/E ratio of 18.64 and a beta of 0.76. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last posted its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, hitting analysts’ consensus estimates of $0.18. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. The business had revenue of $117.45 million during the quarter, compared to analysts’ expectations of $46.96 million. During the same period last year, the company posted $0.26 earnings per share. Analysts predict that Flushing Financial will post 0.69 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 6th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.88 annualized dividend and a yield of 5.43%. Flushing Financial’s payout ratio is 101.15%.

Insider Buying and Selling at Flushing Financial

In related news, COO Maria A. Grasso sold 4,500 shares of Flushing Financial stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $13.49, for a total value of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at $1,122,880.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.31% of the company’s stock.

Institutional Trading of Flushing Financial

Several large investors have recently modified their holdings of FFIC. Allspring Global Investments Holdings LLC bought a new stake in Flushing Financial during the 1st quarter valued at approximately $32,000. BNP Paribas Financial Markets grew its holdings in Flushing Financial by 58.7% during the 1st quarter. BNP Paribas Financial Markets now owns 36,853 shares of the bank’s stock valued at $465,000 after buying an additional 13,636 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Flushing Financial by 183.4% in the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock valued at $1,025,000 after purchasing an additional 52,627 shares in the last quarter. Swiss National Bank grew its position in Flushing Financial by 5.4% in the first quarter. Swiss National Bank now owns 54,223 shares of the bank’s stock worth $684,000 after acquiring an additional 2,800 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System bought a new position in shares of Flushing Financial during the 1st quarter valued at approximately $264,000. 67.10% of the stock is owned by institutional investors.

About Flushing Financial

Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.