Flushing Financial (NASDAQ:FFIC) Reaches New 12-Month High – Here’s What Happened

Flushing Financial Co. (NASDAQ:FFIC) shares hit a new 52-week high during trading on Monday . The company traded as high as $18.32 and last traded at $18.32, with a volume of 57451 shares trading hands. The stock had previously closed at $17.49.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FFIC shares. Keefe, Bruyette & Woods lifted their target price on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. StockNews.com upgraded Flushing Financial from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Raymond James raised their target price on Flushing Financial from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler lowered shares of Flushing Financial from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $15.00 to $16.50 in a report on Tuesday, July 30th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Stock Performance

The stock’s 50-day simple moving average is $14.93 and its 200 day simple moving average is $13.84. The stock has a market capitalization of $516.57 million, a price-to-earnings ratio of 21.06 and a beta of 0.75. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.27.

Flushing Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 6th were given a $0.22 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.88 dividend on an annualized basis and a yield of 4.95%. Flushing Financial’s payout ratio is 101.15%.

Insider Transactions at Flushing Financial

In related news, Director Sam Sang Ki Han sold 10,000 shares of Flushing Financial stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the completion of the sale, the director now directly owns 67,251 shares in the company, valued at $1,040,372.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Sam Sang Ki Han sold 10,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $15.47, for a total value of $154,700.00. Following the transaction, the director now directly owns 67,251 shares in the company, valued at $1,040,372.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Astrid Burrowes sold 8,000 shares of Flushing Financial stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $16.19, for a total value of $129,520.00. Following the sale, the chief accounting officer now directly owns 34,853 shares of the company’s stock, valued at approximately $564,270.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,500 shares of company stock worth $344,925 over the last 90 days. 6.31% of the stock is owned by insiders.

Institutional Trading of Flushing Financial

Hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its position in shares of Flushing Financial by 4,000.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock worth $30,000 after purchasing an additional 2,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Flushing Financial during the first quarter worth $32,000. EntryPoint Capital LLC acquired a new stake in shares of Flushing Financial during the first quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Flushing Financial in the 2nd quarter worth $61,000. Finally, CWM LLC boosted its position in Flushing Financial by 87.0% during the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock worth $73,000 after acquiring an additional 2,575 shares during the last quarter. Institutional investors and hedge funds own 67.10% of the company’s stock.

Flushing Financial Company Profile

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.