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

Flushing Financial (NASDAQ:FFIC) had its price objective cut by Keefe, Bruyette & Woods from $14.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a market perform rating on the bank’s stock.

Several other research firms also recently issued reports on FFIC. StockNews.com downgraded Flushing Financial from a hold rating to a sell rating in a report on Thursday, April 25th. Raymond James upped their price objective on Flushing Financial from $17.00 to $19.00 and gave the stock an outperform rating in a report on Friday, January 5th. Finally, DA Davidson cut their price target on Flushing Financial from $17.00 to $13.50 and set a neutral rating on the stock in a research note on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Flushing Financial currently has an average rating of Hold and an average price target of $15.17.

Flushing Financial Stock Down 0.6 %

Shares of FFIC opened at $11.30 on Friday. The company has a market capitalization of $328.49 million, a P/E ratio of 11.30 and a beta of 0.73. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.04 and a quick ratio of 1.04. Flushing Financial has a one year low of $9.28 and a one year high of $18.00. The business’s 50 day simple moving average is $12.16 and its 200-day simple moving average is $13.80.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.14 EPS 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 business had revenue of $112.58 million during the quarter, compared to analyst estimates of $47.12 million. During the same period in the previous year, the firm earned $0.10 earnings per share. As a group, sell-side analysts predict that Flushing Financial will post 0.71 EPS for the current fiscal year.

Flushing Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.79%. The ex-dividend date was Friday, March 8th. Flushing Financial’s dividend payout ratio is currently 88.00%.

Insider Activity at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares in the company, valued at approximately $427,885.11. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Thomas Buonaiuto sold 19,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the sale, the executive vice president now owns 32,391 shares in the company, valued at approximately $427,885.11. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Francis W. Korzekwinski sold 7,649 shares of the company’s stock in a transaction on 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 owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The disclosure for this sale can be found here. 6.31% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Flushing Financial

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Flushing Financial by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,565,212 shares of the bank’s stock worth $20,551,000 after purchasing an additional 6,158 shares in the last quarter. EMC Capital Management increased its holdings in Flushing Financial by 116.7% during the 3rd quarter. EMC Capital Management now owns 11,493 shares of the bank’s stock worth $151,000 after purchasing an additional 6,189 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Flushing Financial during the 4th quarter worth about $482,000. GSA Capital Partners LLP increased its holdings 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 purchasing an additional 32,805 shares in the last quarter. Finally, Gamco Investors INC. ET AL increased its holdings in Flushing Financial by 1.1% during the 3rd quarter. Gamco Investors INC. ET AL now owns 1,158,402 shares of the bank’s stock worth $15,210,000 after purchasing an additional 12,602 shares in the last quarter. Institutional investors 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.