Flushing Financial (NASDAQ:FFIC) Share Price Passes Above 200 Day Moving Average of $12.99

Flushing Financial Co. (NASDAQ:FFIC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $12.99 and traded as high as $14.76. Flushing Financial shares last traded at $14.63, with a volume of 178,486 shares traded.

Analyst Ratings Changes

FFIC has been the topic of several analyst reports. Raymond James raised their price target on shares of Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler downgraded Flushing Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. Keefe, Bruyette & Woods raised their price objective on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, StockNews.com lowered Flushing Financial from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.50.

Flushing Financial Stock Up 0.3 %

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a market capitalization of $425.28 million, a price-to-earnings ratio of 14.63 and a beta of 0.76. The firm has a 50 day moving average price of $14.23 and a two-hundred day moving average price of $12.99.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Flushing Financial had a net margin of 5.84% and a return on equity of 3.96%. The company had revenue of $117.45 million during the quarter, compared to the consensus estimate of $46.96 million. During the same period in the previous year, the firm earned $0.26 earnings per share. On average, equities analysts expect that Flushing Financial Co. will post 0.71 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, September 6th. Flushing Financial’s dividend payout ratio is presently 88.00%.

Insider Transactions at Flushing Financial

In related news, COO Maria A. Grasso sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $13.49, for a total transaction of $60,705.00. Following the transaction, the chief operating officer now directly owns 83,238 shares of the company’s stock, valued at approximately $1,122,880.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.31% of the company’s stock.

Hedge Funds Weigh In On Flushing Financial

A number of institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Flushing Financial by 531.8% during the 2nd quarter. AQR Capital Management LLC now owns 326,376 shares of the bank’s stock valued at $4,292,000 after buying an additional 274,720 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Flushing Financial during the 1st quarter worth $3,385,000. American Century Companies Inc. raised its stake in shares of Flushing Financial by 16.1% in the 2nd quarter. American Century Companies Inc. now owns 452,209 shares of the bank’s stock valued at $5,947,000 after purchasing an additional 62,659 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Flushing Financial by 183.4% during the first quarter. Empowered Funds LLC now owns 81,322 shares of the bank’s stock worth $1,025,000 after purchasing an additional 52,627 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Flushing Financial by 41.0% in the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after buying an additional 46,871 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

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.