ValuEngine cut shares of Flushing Financial (NASDAQ:FFIC) from a hold rating to a sell rating in a research report released on Monday.
Several other equities analysts also recently weighed in on FFIC. BidaskClub downgraded Flushing Financial from a hold rating to a sell rating in a research note on Friday, September 21st. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $26.50 price objective on shares of Flushing Financial in a research note on Thursday, July 26th. Zacks Investment Research raised Flushing Financial from a strong sell rating to a hold rating in a research note on Wednesday, July 4th. Finally, Sandler O’Neill reaffirmed a buy rating and issued a $30.00 price objective on shares of Flushing Financial in a research note on Thursday, July 26th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Flushing Financial presently has an average rating of Hold and a consensus price target of $29.10.
NASDAQ FFIC opened at $24.56 on Monday. Flushing Financial has a 1-year low of $24.52 and a 1-year high of $31.45. The company has a market capitalization of $705.97 million, a P/E ratio of 15.99, a PEG ratio of 1.20 and a beta of 0.92. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 2.32.
Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Tuesday, July 24th. The bank reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Flushing Financial had a return on equity of 8.45% and a net margin of 16.32%. The firm had revenue of $45.81 million during the quarter, compared to the consensus estimate of $45.10 million. equities research analysts expect that Flushing Financial will post 1.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Monday, September 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, September 7th. Flushing Financial’s payout ratio is 50.96%.
A number of institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank increased its position in Flushing Financial by 6.5% during the first quarter. Swiss National Bank now owns 47,723 shares of the bank’s stock worth $1,287,000 after buying an additional 2,900 shares in the last quarter. Wedge Capital Management L L P NC increased its position in Flushing Financial by 6.7% during the second quarter. Wedge Capital Management L L P NC now owns 53,289 shares of the bank’s stock worth $1,391,000 after buying an additional 3,348 shares in the last quarter. Legal & General Group Plc increased its position in Flushing Financial by 37.3% during the first quarter. Legal & General Group Plc now owns 14,357 shares of the bank’s stock worth $387,000 after buying an additional 3,899 shares in the last quarter. Gabelli Funds LLC increased its position in Flushing Financial by 0.8% during the second quarter. Gabelli Funds LLC now owns 542,593 shares of the bank’s stock worth $14,162,000 after buying an additional 4,500 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Flushing Financial by 9.4% during the first quarter. Wells Fargo & Company MN now owns 56,410 shares of the bank’s stock worth $1,521,000 after buying an additional 4,869 shares in the last quarter. 75.55% of the stock is owned by institutional investors.
About Flushing Financial
Flushing Financial Corporation operates as the bank holding company for Flushing Bank that provides banking products and services primarily to consumers, businesses, and governmental units. The company offers various deposit products, including checking and savings accounts, money market accounts, demand accounts, NOW accounts, and certificates of deposit.
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