Flushing Financial (NASDAQ:FFIC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

FFIC has been the subject of a number of other research reports. Keefe, Bruyette & Woods decreased their price objective on shares of Flushing Financial from $14.00 to $13.00 and set a market perform rating for the company in a report on Friday, April 26th. DA Davidson decreased their price objective on Flushing Financial from $17.00 to $13.50 and set a neutral rating for the company in a research note on Tuesday, March 5th.

Flushing Financial Stock Performance

Shares of NASDAQ FFIC opened at $11.85 on Wednesday. The stock has a market cap of $344.48 million, a PE ratio of 11.85 and a beta of 0.78. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a fifty day moving average price of $12.20 and a 200-day moving average price of $13.67. Flushing Financial has a 1 year low of $10.74 and a 1 year high of $18.00.

Flushing Financial (NASDAQ:FFIC) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. The company had revenue of $112.58 million for the quarter, compared to analysts’ expectations of $47.12 million. During the same period in the previous year, the business posted $0.10 earnings per share. Equities analysts anticipate that Flushing Financial will post 0.74 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Monday, June 10th will be given a $0.22 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.88 dividend on an annualized basis and a yield of 7.43%. Flushing Financial’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. YHB Investment Advisors Inc. acquired a new position in Flushing Financial in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC purchased a new position in Flushing Financial during the first quarter worth about $32,000. EntryPoint Capital LLC purchased a new stake in shares of Flushing Financial in the 1st quarter valued at approximately $35,000. Mendon Capital Advisors Corp acquired a new stake in shares of Flushing Financial during the 4th quarter worth approximately $287,000. Finally, Quest Partners LLC acquired a new position in Flushing Financial in the fourth quarter valued at approximately $307,000. 67.10% of the stock is owned by institutional investors and hedge funds.

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.