Flushing Financial Corporation (NASDAQ:FFIC) - Equities researchers at Gabelli lifted their FY2017 earnings per share (EPS) estimates for shares of Flushing Financial Corporation in a research note issued on Thursday. Gabelli analyst S. Comery now anticipates that the bank will post earnings per share of $1.75 for the year, up from their previous forecast of $1.70.
A number of other research firms have also weighed in on FFIC. Sandler O’Neill raised Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, April 26th. Zacks Investment Research lowered Flushing Financial Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price target on shares of Flushing Financial Corporation in a research note on Tuesday, May 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $28.00 price target on shares of Flushing Financial Corporation in a research note on Friday, July 14th. Finally, ValuEngine raised Flushing Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.50.
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Shares of Flushing Financial Corporation (FFIC) opened at 28.38 on Friday. The firm has a 50-day moving average price of $28.40 and a 200-day moving average price of $27.99. Flushing Financial Corporation has a 1-year low of $20.70 and a 1-year high of $31.96. The stock has a market cap of $823.53 million, a price-to-earnings ratio of 12.18 and a beta of 1.11.
Flushing Financial Corporation (NASDAQ:FFIC) last released its earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Flushing Financial Corporation had a return on equity of 9.31% and a net margin of 19.96%. The business had revenue of $45.57 million for the quarter, compared to analyst estimates of $46.79 million. During the same quarter last year, the firm posted $0.39 earnings per share.
Institutional investors have recently made changes to their positions in the stock. Aperio Group LLC raised its position in shares of Flushing Financial Corporation by 24.3% in the second quarter. Aperio Group LLC now owns 11,621 shares of the bank’s stock valued at $328,000 after buying an additional 2,271 shares during the period. FNY Partners Fund LP acquired a new position in shares of Flushing Financial Corporation during the first quarter valued at approximately $415,000. AQR Capital Management LLC raised its position in shares of Flushing Financial Corporation by 17.3% in the first quarter. AQR Capital Management LLC now owns 174,399 shares of the bank’s stock valued at $4,686,000 after buying an additional 25,680 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Flushing Financial Corporation by 5.4% in the first quarter. Schwab Charles Investment Management Inc. now owns 126,671 shares of the bank’s stock valued at $3,404,000 after buying an additional 6,462 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Flushing Financial Corporation by 5.9% in the first quarter. Renaissance Technologies LLC now owns 420,100 shares of the bank’s stock valued at $11,288,000 after buying an additional 23,500 shares during the period. 76.96% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Maria A. Grasso sold 4,000 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $26.77, for a total value of $107,080.00. Following the transaction, the chief operating officer now owns 74,223 shares of the company’s stock, valued at approximately $1,986,949.71. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.86% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Monday, June 12th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, June 8th. Flushing Financial Corporation’s dividend payout ratio (DPR) is presently 41.62%.
Flushing Financial Corporation Company Profile
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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