Flushing Financial Corporation (NASDAQ:FFIC) has been given a consensus recommendation of “Hold” by the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $30.00.
FFIC has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded shares of Flushing Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $28.00 price objective on shares of Flushing Financial Corporation in a research report on Friday, July 14th. BidaskClub raised shares of Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial Corporation in a research report on Sunday, October 8th.
Shares of Flushing Financial Corporation (FFIC) traded up 0.97% during trading on Wednesday, hitting $31.25. The stock had a trading volume of 43,181 shares. The firm has a 50-day moving average of $29.60 and a 200 day moving average of $28.48. Flushing Financial Corporation has a 1-year low of $21.25 and a 1-year high of $31.96. The company has a market capitalization of $910.47 million, a P/E ratio of 18.19 and a beta of 1.11.
Flushing Financial Corporation (NASDAQ:FFIC) last posted its earnings results on Tuesday, July 25th. The bank reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $45.57 million during the quarter, compared to the consensus estimate of $46.79 million. Flushing Financial Corporation had a net margin of 19.96% and a return on equity of 9.23%. During the same period in the previous year, the firm posted $0.39 earnings per share. Equities research analysts predict that Flushing Financial Corporation will post $1.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, September 7th. Flushing Financial Corporation’s payout ratio is 41.62%.
In other Flushing Financial Corporation news, Director Donna M. Obrien sold 3,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $27.33, for a total value of $81,990.00. Following the completion of the sale, the director now directly owns 50,925 shares of the company’s stock, valued at approximately $1,391,780.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.86% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Mutual of America Capital Management LLC grew its position in Flushing Financial Corporation by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 157,130 shares of the bank’s stock worth $4,670,000 after purchasing an additional 4,295 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Flushing Financial Corporation in the 2nd quarter worth about $221,000. Susquehanna International Group LLP bought a new stake in Flushing Financial Corporation in the 2nd quarter worth about $522,000. The Manufacturers Life Insurance Company grew its position in Flushing Financial Corporation by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 680,775 shares of the bank’s stock worth $19,191,000 after purchasing an additional 8,096 shares in the last quarter. Finally, State Street Corp grew its position in Flushing Financial Corporation by 13.3% in the 2nd quarter. State Street Corp now owns 593,185 shares of the bank’s stock worth $16,725,000 after purchasing an additional 69,666 shares in the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.
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About Flushing Financial Corporation
Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). The Company is a community-oriented financial institution offering a range of financial services. The Bank’s subsidiaries include Flushing Preferred Funding Corporation, Flushing Service Corporation and FSB Properties Inc The Company also owns Flushing Financial Capital Trust II, Flushing Financial Capital Trust III and Flushing Financial Capital Trust IV (the Trusts).
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