Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Flushing Financial Corporation (NASDAQ:FFIC) in a research report report published on Sunday. Keefe, Bruyette & Woods currently has a $30.00 price objective on the bank’s stock.
Several other analysts also recently weighed in on the stock. Piper Jaffray Companies reissued a hold rating and issued a $28.00 price target on shares of Flushing Financial Corporation in a research note on Friday, July 14th. BidaskClub downgraded shares of Flushing Financial Corporation from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research downgraded shares of Flushing Financial Corporation from a buy rating to a hold rating in a research note on Friday, September 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Flushing Financial Corporation currently has an average rating of Hold and a consensus target price of $30.33.
Flushing Financial Corporation (NASDAQ FFIC) opened at 31.00 on Friday. Flushing Financial Corporation has a 12 month low of $20.95 and a 12 month high of $31.96. The company has a market capitalization of $903.19 million, a price-to-earnings ratio of 18.04 and a beta of 1.11. The company’s 50-day moving average price is $28.29 and its 200 day moving average price is $28.09.
Flushing Financial Corporation (NASDAQ:FFIC) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $45.57 million during the quarter, compared to the consensus estimate of $46.79 million. Flushing Financial Corporation had a net margin of 19.96% and a return on equity of 9.23%. During the same period in the previous year, the firm posted $0.39 earnings per share. Analysts forecast that Flushing Financial Corporation will post $1.74 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 8th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.32%. The ex-dividend date was Thursday, September 7th. Flushing Financial Corporation’s dividend payout ratio is presently 41.62%.
In other Flushing Financial Corporation news, Director Donna M. Obrien sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $27.33, for a total value of $81,990.00. Following the completion of the sale, the director now directly owns 50,925 shares of the company’s stock, valued at $1,391,780.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.86% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Teachers Advisors LLC raised its stake in shares of Flushing Financial Corporation by 3.5% during the first quarter. Teachers Advisors LLC now owns 51,793 shares of the bank’s stock valued at $1,392,000 after acquiring an additional 1,744 shares during the last quarter. Swiss National Bank raised its stake in shares of Flushing Financial Corporation by 5.7% during the first quarter. Swiss National Bank now owns 44,823 shares of the bank’s stock valued at $1,204,000 after acquiring an additional 2,400 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Flushing Financial Corporation during the first quarter valued at about $251,000. AQR Capital Management LLC raised its stake in shares of Flushing Financial Corporation by 17.3% during the first quarter. AQR Capital Management LLC now owns 174,399 shares of the bank’s stock valued at $4,686,000 after acquiring an additional 25,680 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Flushing Financial Corporation by 3.5% during the first quarter. Vanguard Group Inc. now owns 1,323,206 shares of the bank’s stock valued at $35,554,000 after acquiring an additional 44,975 shares during the last quarter. 77.31% of the stock is owned by institutional investors and hedge funds.
About Flushing Financial Corporation
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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