Flushing Financial (NASDAQ:FFIC) PT Raised to $17.00 at Raymond James

Flushing Financial (NASDAQ:FFIC) had its target price lifted by Raymond James from $16.00 to $17.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the bank’s stock.

Other equities analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods dropped 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 research note on Friday, April 26th. Piper Sandler downgraded Flushing Financial from an overweight rating to a neutral rating and raised their price objective for the company from $15.00 to $16.50 in a report on Tuesday. Finally, StockNews.com cut Flushing Financial from a hold rating to a sell rating in a report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Flushing Financial currently has an average rating of Hold and an average price target of $15.50.

Flushing Financial Trading Down 2.6 %

Shares of Flushing Financial stock opened at $13.54 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $393.61 million, a price-to-earnings ratio of 13.54 and a beta of 0.77. The firm’s 50-day moving average price is $13.39 and its two-hundred day moving average price is $13.15. Flushing Financial has a 12-month low of $10.74 and a 12-month high of $18.00.

Flushing Financial (NASDAQ:FFIC) last released its quarterly earnings data on Monday, July 29th. The bank reported $0.18 earnings per share for the quarter, meeting the consensus estimate of $0.18. The business had revenue of $117.45 million for the quarter, compared to analyst estimates of $46.96 million. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. During the same period last year, the firm posted $0.26 earnings per share. On average, analysts forecast that Flushing Financial will post 0.73 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, June 21st. Shareholders of record on Monday, June 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 6.50%. The ex-dividend date was Friday, June 7th. Flushing Financial’s payout ratio is presently 88.00%.

Hedge Funds Weigh In On Flushing Financial

A number of hedge funds have recently made changes to their positions in FFIC. Vanguard Group Inc. increased its position in Flushing Financial by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 1,609,430 shares of the bank’s stock valued at $20,295,000 after purchasing an additional 5,933 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Flushing Financial by 0.9% during the first quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank’s stock worth $15,249,000 after buying an additional 11,285 shares during the period. Acadian Asset Management LLC bought a new position in Flushing Financial during the first quarter worth $3,385,000. Bank of New York Mellon Corp lifted its holdings in Flushing Financial by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 208,057 shares of the bank’s stock valued at $2,736,000 after buying an additional 3,984 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Flushing Financial by 41.0% during the second quarter. Assenagon Asset Management S.A. now owns 161,275 shares of the bank’s stock valued at $2,121,000 after acquiring an additional 46,871 shares during the last quarter. 67.10% of the stock is currently 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. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest bearing demand accounts, NOW accounts, and certificates of deposit.