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

StockNews.com upgraded shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a hold rating in a research note published on Monday morning.

Flushing Financial Trading Up 0.4 %

NASDAQ FFIC opened at $13.23 on Monday. The company has a market cap of $446.87 million, a price-to-earnings ratio of -13.10 and a beta of 0.79. Flushing Financial has a 52 week low of $10.74 and a 52 week high of $18.59. The business has a 50 day moving average price of $14.20 and a 200-day moving average price of $15.01. 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 (NASDAQ:FFIC) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.07). Flushing Financial had a positive return on equity of 3.25% and a negative net margin of 6.46%. As a group, equities analysts expect that Flushing Financial will post 1.2 earnings per share for the current fiscal year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, March 14th. This represents a $0.88 annualized dividend and a yield of 6.65%. Flushing Financial’s dividend payout ratio (DPR) is currently -87.13%.

Insider Buying and Selling

In other Flushing Financial news, EVP Thomas Buonaiuto sold 6,800 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $12.92, for a total value of $87,856.00. Following the transaction, the executive vice president now owns 32,336 shares of the company’s stock, valued at approximately $417,781.12. The trade was a 17.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FFIC. R Squared Ltd purchased a new position in shares of Flushing Financial during the 4th quarter valued at $28,000. US Bancorp DE increased its position in shares of Flushing Financial by 496.0% during the 4th quarter. US Bancorp DE now owns 3,725 shares of the bank’s stock valued at $53,000 after purchasing an additional 3,100 shares during the last quarter. Quarry LP purchased a new stake in Flushing Financial during the 4th quarter valued at about $73,000. New York State Common Retirement Fund boosted its holdings in Flushing Financial by 27.8% during the 4th quarter. New York State Common Retirement Fund now owns 6,434 shares of the bank’s stock valued at $92,000 after acquiring an additional 1,400 shares during the period. Finally, FMR LLC lifted its holdings in Flushing Financial by 64.1% in the 3rd quarter. FMR LLC now owns 7,259 shares of the bank’s stock worth $106,000 after buying an additional 2,836 shares during the period. Hedge funds and other institutional investors 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.