Flushing Financial Corporation (FFIC) Given Consensus Recommendation of “Hold” by Analysts
Shares of Flushing Financial Corporation (NASDAQ:FFIC) have earned an average recommendation of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $30.00.
A number of research firms have commented on FFIC. Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price target on shares of Flushing Financial Corporation in a research report on Thursday, August 10th. BidaskClub upgraded shares of Flushing Financial Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, August 4th. Piper Jaffray Companies reiterated a “hold” rating and issued a $30.00 target price on shares of Flushing Financial Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of Flushing Financial Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Tuesday, September 19th.
In other 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 sale, the director now owns 50,925 shares of the company’s stock, valued at approximately $1,391,780.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.86% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its position in Flushing Financial Corporation by 277.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,834 shares of the bank’s stock valued at $136,000 after purchasing an additional 3,553 shares during the period. SG Americas Securities LLC acquired a new position in Flushing Financial Corporation during the 1st quarter valued at about $133,000. Dynamic Technology Lab Private Ltd acquired a new position in Flushing Financial Corporation during the 2nd quarter valued at about $221,000. Karp Capital Management Corp acquired a new position in Flushing Financial Corporation during the 1st quarter valued at about $251,000. Finally, Schroder Investment Management Group lifted its position in Flushing Financial Corporation by 2.4% during the 2nd quarter. Schroder Investment Management Group now owns 10,055 shares of the bank’s stock valued at $284,000 after purchasing an additional 233 shares during the period. 77.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Flushing Financial Corporation (NASDAQ:FFIC) opened at 30.90 on Wednesday. Flushing Financial Corporation has a one year low of $20.95 and a one year high of $31.96. The stock has a 50 day moving average of $29.24 and a 200-day moving average of $28.40. The stock has a market capitalization of $900.27 million, a PE ratio of 17.99 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The firm had revenue of $45.57 million during the quarter, compared to analyst estimates 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 business posted $0.39 EPS. Equities analysts predict that Flushing Financial Corporation will post $1.74 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 8th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Thursday, September 7th. Flushing Financial Corporation’s dividend payout ratio is 41.62%.
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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