Flushing Financial (NASDAQ:FFIC) PT Lowered to $13.00

Flushing Financial (NASDAQ:FFIC) had its price target reduced by Keefe, Bruyette & Woods from $14.00 to $13.00 in a report published on Friday, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Other equities analysts have also issued research reports about the stock. Raymond James boosted their target price on shares of Flushing Financial from $17.00 to $19.00 and gave the company an outperform rating in a report on Friday, January 5th. StockNews.com lowered shares of Flushing Financial from a hold rating to a sell rating in a report on Thursday, April 25th. Finally, DA Davidson dropped their price objective on shares of Flushing Financial from $17.00 to $13.50 and set a neutral rating on the stock in a report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $15.17.

Flushing Financial Price Performance

Shares of NASDAQ:FFIC opened at $11.30 on Friday. The firm has a market cap of $328.49 million, a PE ratio of 11.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 1.04. Flushing Financial has a 52 week low of $9.28 and a 52 week high of $18.00. The firm’s fifty day moving average is $12.16 and its 200-day moving average is $13.80.

Flushing Financial (NASDAQ:FFIC) last released its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $112.58 million during the quarter, compared to analyst estimates of $47.12 million. Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. During the same quarter in the previous year, the firm earned $0.10 EPS. Sell-side analysts predict that Flushing Financial will post 0.71 earnings per share for the current year.

Flushing Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 7.79%. The ex-dividend date was Friday, March 8th. Flushing Financial’s payout ratio is presently 88.00%.

Insider Transactions at Flushing Financial

In other news, EVP Francis W. Korzekwinski sold 7,649 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $12.61, for a total transaction of $96,453.89. Following the completion of the sale, the executive vice president now directly owns 73,493 shares of the company’s stock, valued at $926,746.73. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Thomas Buonaiuto sold 19,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $13.21, for a total transaction of $250,990.00. Following the completion of the sale, the executive vice president now directly owns 32,391 shares of the company’s stock, valued at $427,885.11. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $12.61, for a total transaction of $96,453.89. Following the completion of the sale, the executive vice president now directly owns 73,493 shares of the company’s stock, valued at $926,746.73. The disclosure for this sale can be found here. 6.31% of the stock is currently owned by insiders.

Institutional Trading of Flushing Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in Flushing Financial by 290.9% in the first quarter. Assenagon Asset Management S.A. now owns 114,404 shares of the bank’s stock worth $1,443,000 after acquiring an additional 85,139 shares during the period. GSA Capital Partners LLP grew its stake in Flushing Financial by 130.4% during the third quarter. GSA Capital Partners LLP now owns 57,956 shares of the bank’s stock valued at $761,000 after acquiring an additional 32,805 shares in the last quarter. Quest Partners LLC purchased a new position in Flushing Financial during the fourth quarter valued at approximately $307,000. Mendon Capital Advisors Corp purchased a new position in Flushing Financial during the fourth quarter valued at approximately $287,000. Finally, O Shaughnessy Asset Management LLC grew its stake in Flushing Financial by 36.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 57,366 shares of the bank’s stock valued at $753,000 after acquiring an additional 15,291 shares in the last quarter. 67.10% of the stock is owned by hedge funds and other 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.