Flushing Financial (NASDAQ:FFIC) Raised to Hold at StockNews.com

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFICFree Report) from a sell rating to a hold rating in a research note released on Friday morning.

A number of other equities analysts have also commented on FFIC. Keefe, Bruyette & Woods cut their price target on shares of Flushing Financial from $14.00 to $13.00 and set a market perform rating on the stock in a report on Friday, April 26th. DA Davidson reduced their price target on Flushing Financial from $17.00 to $13.50 and set a neutral rating on the stock in a research report on Tuesday, March 5th.

View Our Latest Stock Report on FFIC

Flushing Financial Trading Down 0.3 %

NASDAQ FFIC opened at $11.90 on Friday. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The business’s fifty day moving average is $12.24 and its 200 day moving average is $13.57. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a market cap of $345.92 million, a price-to-earnings ratio of 11.90 and a beta of 0.78.

Flushing Financial (NASDAQ:FFICGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Flushing Financial had a return on equity of 4.31% and a net margin of 6.81%. The firm had revenue of $112.58 million for the quarter, compared to the consensus estimate of $47.12 million. During the same quarter last year, the firm posted $0.10 earnings per share. As a group, sell-side analysts expect that Flushing Financial will post 0.74 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Monday, June 10th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date of this dividend was Friday, June 7th. Flushing Financial’s dividend payout ratio is presently 88.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Flushing Financial by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,565,212 shares of the bank’s stock valued at $20,551,000 after acquiring an additional 6,158 shares during the period. Quest Partners LLC acquired a new stake in shares of Flushing Financial in the 4th quarter valued at about $307,000. Assenagon Asset Management S.A. bought a new stake in Flushing Financial in the 4th quarter valued at about $482,000. GSA Capital Partners LLP raised its stake in Flushing Financial by 130.4% during the 3rd quarter. GSA Capital Partners LLP now owns 57,956 shares of the bank’s stock worth $761,000 after buying an additional 32,805 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Flushing Financial by 23.9% in the fourth quarter. BNP Paribas Financial Markets now owns 23,217 shares of the bank’s stock worth $383,000 after acquiring an additional 4,476 shares in the last quarter. 67.10% of the stock is owned by institutional investors.

About Flushing Financial

(Get Free Report)

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.

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