Flushing Financial (NASDAQ:FFIC) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Flushing Financial Corporation (NASDAQ:FFIC) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.85 and traded as high as $16.69. Flushing Financial shares last traded at $16.68, with a volume of 513,082 shares.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FFIC shares. Raymond James Financial downgraded Flushing Financial from a “moderate buy” rating to a “hold” rating in a report on Wednesday, December 31st. Keefe, Bruyette & Woods increased their price objective on shares of Flushing Financial from $14.50 to $16.80 and gave the company a “market perform” rating in a research report on Thursday, January 29th. Zacks Research downgraded shares of Flushing Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Flushing Financial in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Flushing Financial from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $16.80.

Flushing Financial Trading Up 0.7%

The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. The business’s 50-day moving average is $16.13 and its 200 day moving average is $14.85. The firm has a market capitalization of $563.45 million, a P/E ratio of 30.89 and a beta of 0.83.

Flushing Financial (NASDAQ:FFIC) last announced its earnings results on Tuesday, January 27th. The bank reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Flushing Financial had a return on equity of 5.96% and a net margin of 3.86%.The business had revenue of $58.81 million for the quarter, compared to analyst estimates of $62.27 million. As a group, analysts anticipate that Flushing Financial Corporation will post 1.2 EPS for the current fiscal year.

Flushing Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.88 annualized dividend and a yield of 5.3%. Flushing Financial’s payout ratio is currently 162.96%.

Insider Activity

In related news, EVP Thomas Buonaiuto sold 1,570 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $16.20, for a total value of $25,434.00. Following the transaction, the executive vice president owned 35,469 shares in the company, valued at approximately $574,597.80. This trade represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.66% of the company’s stock.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently bought and sold shares of the company. Martin & Co. Inc. TN increased its holdings in Flushing Financial by 1.8% in the 3rd quarter. Martin & Co. Inc. TN now owns 58,449 shares of the bank’s stock valued at $807,000 after buying an additional 1,037 shares during the period. First Trust Advisors LP increased its stake in Flushing Financial by 5.1% in the second quarter. First Trust Advisors LP now owns 21,621 shares of the bank’s stock valued at $257,000 after acquiring an additional 1,049 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Flushing Financial by 58.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 3,295 shares of the bank’s stock valued at $50,000 after acquiring an additional 1,218 shares during the last quarter. Royal Bank of Canada raised its position in Flushing Financial by 9.1% during the first quarter. Royal Bank of Canada now owns 17,472 shares of the bank’s stock valued at $222,000 after purchasing an additional 1,453 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Flushing Financial by 75.1% during the second quarter. Tower Research Capital LLC TRC now owns 3,847 shares of the bank’s stock worth $46,000 after purchasing an additional 1,650 shares during the last quarter. Institutional investors own 67.10% of the company’s stock.

About Flushing Financial

Flushing Financial Corporation is the bank holding company for Flushing Bank, a community-oriented financial institution headquartered in Flushing, Queens, New York. Tracing its origins to the founding of Flushing Bank in 1929, the holding company was established in 2006 to support the bank’s growth and diversification. Flushing Financial operates under the Nasdaq ticker FFIC, delivering a full suite of banking services to personal, commercial and institutional customers.

The company’s primary business activities include deposit-taking, consumer and commercial lending, mortgage banking and treasury management.