Flushing Financial Corporation (FFIC) Receives Consensus Rating of “Hold” from Analysts
Flushing Financial Corporation (NASDAQ:FFIC) has been assigned a consensus rating of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $29.00.
A number of equities analysts have recently weighed in on the company. Piper Jaffray Companies reaffirmed a “hold” rating and set a $28.00 target price on shares of Flushing Financial Corporation in a research report on Friday. Zacks Investment Research lowered Flushing Financial Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $30.00 target price on shares of Flushing Financial Corporation in a research report on Tuesday, May 2nd. ValuEngine raised Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Sandler O’Neill raised Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, April 26th.
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In related news, COO Maria A. Grasso sold 4,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $26.77, for a total value of $107,080.00. Following the completion of the sale, the chief operating officer now directly owns 74,223 shares of the company’s stock, valued at approximately $1,986,949.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.86% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FFIC. Norges Bank acquired a new position in shares of Flushing Financial Corporation during the fourth quarter worth about $10,501,000. Frontier Capital Management Co. LLC increased its position in shares of Flushing Financial Corporation by 3.0% in the first quarter. Frontier Capital Management Co. LLC now owns 2,414,907 shares of the bank’s stock worth $64,889,000 after buying an additional 71,447 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Flushing Financial Corporation by 2.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,237,747 shares of the bank’s stock worth $60,129,000 after buying an additional 55,447 shares during the period. Vanguard Group Inc. increased its position in shares of Flushing Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock worth $35,554,000 after buying an additional 44,975 shares during the period. Finally, State Street Corp increased its position in shares of Flushing Financial Corporation by 8.4% in the fourth quarter. State Street Corp now owns 538,130 shares of the bank’s stock worth $15,816,000 after buying an additional 41,711 shares during the period. 76.95% of the stock is owned by institutional investors and hedge funds.
Shares of Flushing Financial Corporation (FFIC) traded up 0.46% during trading on Monday, hitting $28.11. 7,157 shares of the stock traded hands. Flushing Financial Corporation has a 52 week low of $20.70 and a 52 week high of $31.96. The firm has a market cap of $815.70 million, a P/E ratio of 12.06 and a beta of 1.11. The company has a 50-day moving average of $28.32 and a 200-day moving average of $28.10.
Flushing Financial Corporation (NASDAQ:FFIC) last issued its earnings results on Tuesday, April 25th. The bank reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.08. Flushing Financial Corporation had a return on equity of 8.92% and a net margin of 23.93%. The company had revenue of $47.08 million for the quarter, compared to analyst estimates of $45.37 million. During the same period in the prior year, the firm earned $0.40 earnings per share. On average, analysts forecast that Flushing Financial Corporation will post $1.65 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 12th were given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, June 8th. Flushing Financial Corporation’s payout ratio is currently 30.77%.
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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