Flushing Financial (NASDAQ:FFIC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Flushing Financial Corporation (NASDAQ:FFIC)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.58 and traded as high as $14.07. Flushing Financial shares last traded at $13.92, with a volume of 241,521 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FFIC. Zacks Research upgraded shares of Flushing Financial from a “strong sell” rating to a “hold” rating in a research note on Monday, September 8th. Weiss Ratings restated a “sell (d+)” rating on shares of Flushing Financial in a research report on Saturday, September 27th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Flushing Financial Stock Performance

The business’s 50-day simple moving average is $13.34 and its two-hundred day simple moving average is $12.58. The firm has a market cap of $470.22 million, a price-to-earnings ratio of -11.70 and a beta of 0.79. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.85.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. The business had revenue of $58.92 million during the quarter, compared to the consensus estimate of $60.13 million. Flushing Financial had a negative net margin of 7.13% and a positive return on equity of 4.45%. As a group, sell-side analysts expect that Flushing Financial Corporation will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 5th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 6.3%. Flushing Financial’s payout ratio is currently -73.95%.

Institutional Trading of Flushing Financial

A number of institutional investors and hedge funds have recently modified their holdings of FFIC. Tower Research Capital LLC TRC increased its stake in shares of 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 in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Flushing Financial by 37.0% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 8,119 shares of the bank’s stock valued at $96,000 after acquiring an additional 2,194 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Flushing Financial during the 1st quarter valued at about $127,000. Cerity Partners LLC purchased a new stake in Flushing Financial during the 1st quarter valued at about $191,000. Finally, Corebridge Financial Inc. grew its stake in Flushing Financial by 14.1% during the 1st quarter. Corebridge Financial Inc. now owns 15,627 shares of the bank’s stock valued at $198,000 after acquiring an additional 1,931 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.

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. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.