Flushing Financial Co. (FFIC) Receives Average Rating of “Hold” from Analysts
Shares of Flushing Financial Co. (NASDAQ:FFIC) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $29.67.
A number of equities research analysts recently issued reports on FFIC shares. Sandler O’Neill cut shares of Flushing Financial from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Thursday, November 30th. They noted that the move was a valuation call. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $30.00 price objective on shares of Flushing Financial in a report on Sunday, October 8th. Zacks Investment Research upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Tuesday, September 19th. ValuEngine upgraded shares of Flushing Financial from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Piper Jaffray Companies restated a “hold” rating and set a $28.00 price target on shares of Flushing Financial in a report on Friday, November 10th.
Shares of Flushing Financial (NASDAQ:FFIC) opened at $27.76 on Thursday. The company has a debt-to-equity ratio of 2.23, a quick ratio of 1.15 and a current ratio of 1.15. Flushing Financial has a one year low of $24.27 and a one year high of $31.96. The stock has a market cap of $781.31, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 1.63 and a beta of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 8th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, December 7th. Flushing Financial’s dividend payout ratio (DPR) is 42.11%.
In related news, Director John E. Sr Roe, Sr. sold 7,429 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $27.06, for a total value of $201,028.74. Following the completion of the transaction, the director now owns 66,434 shares of the company’s stock, valued at $1,797,704.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sam Sang Ki Han sold 5,000 shares of the stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $28.93, for a total transaction of $144,650.00. Following the completion of the transaction, the director now directly owns 41,066 shares of the company’s stock, valued at approximately $1,188,039.38. The disclosure for this sale can be found here. Insiders have sold 19,058 shares of company stock valued at $525,579 over the last 90 days. Corporate insiders own 4.86% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP acquired a new position in Flushing Financial in the third quarter worth about $430,000. Martin & Co. Inc. TN increased its holdings in shares of Flushing Financial by 55.6% during the third quarter. Martin & Co. Inc. TN now owns 59,938 shares of the bank’s stock worth $1,781,000 after buying an additional 21,423 shares in the last quarter. OxFORD Asset Management LLP acquired a new stake in shares of Flushing Financial during the third quarter worth approximately $298,000. Dimensional Fund Advisors LP increased its holdings in shares of Flushing Financial by 1.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,303,474 shares of the bank’s stock worth $68,460,000 after buying an additional 23,273 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Flushing Financial by 5.8% during the third quarter. Schwab Charles Investment Management Inc. now owns 135,543 shares of the bank’s stock worth $4,029,000 after buying an additional 7,382 shares in the last quarter. 77.36% of the stock is owned by hedge funds and other institutional investors.
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About Flushing Financial
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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