Flushing Financial (NASDAQ:FFIC) is being sold on StockNews.com

StockNews.com downgraded shares of Flushing Financial (NASDAQ:FFIC – Free Report) from a hold rating to a sell rating in a report published Thursday.

A number of other research analysts have also recently commented on FFIC. Raymond James raised their price target on Flushing Financial from $17.00 to $19.00 and gave the stock an outperform rating in a research note on Friday, January 5. DA Davidson lowered their price objective on Flushing Financial from $17.00 to $13.50 and set a neutral rating on the stock in a report on Tuesday, March 5. Finally, Keefe, Bruyette & Woods lowered their price target on Flushing Financial from $15.50 to $14.00 and issued a market performance rating for the company in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Flushing Financial currently has an average rating of Hold and a consensus price target of $15.17.

Check out our latest stock analysis on Flushing Financial

Financial shares down 0.1%

Shares of NASDAQ:FFIC opened at $11.37 on Thursday. The company has a market cap of $330.53 million, a price-to-earnings ratio of 11.37 and a beta of 0.73. Flushing Financial has a 12-month low of $9.28 and a 12-month high of $18.00. The company has a 50-day moving average of $12.21 and a 200-day moving average of $13.80. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.26.

Flushing Financial (NASDAQ:FFIC – Get Free Report) last reported its quarterly results on Tuesday, April 23. The bank reported earnings per share of $0.14 for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. The company had revenue of $112.58 million for the quarter, compared to analyst estimates of $47.12 million. During the same quarter of the previous year, the company earned earnings per share of $0.10. Sell-side analysts expect Flushing Financial to post 0.71 earnings per share for the current year.

Flushing Financial announces dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 22. A dividend of $0.22 was paid to known shareholders on Monday, March 11. The ex-dividend date was Friday, March 8. This represents a dividend of $0.88 annually and a dividend yield of 7.74%. Flushing Financial’s dividend payout ratio (DPR) is 88.00%.

Insider transactions at Flushing Financial

In related news, EVP Thomas Buonaiuto sold 19,000 shares of Flushing Financial stock in a transaction on Friday, February 23. The stock sold at an average price of $13.21, for a total value of $250,990.00. Following the completion of the transaction, the executive vice president now directly owns 32,391 shares of the company’s stock, valued at $427,885.11. The transaction was disclosed in a document filed with the SEC and available on the SEC website. In other Flushing Financial news, EVP Thomas Buonaiuto sold 19,000 shares in a transaction dated Friday, February 23rd. The stock sold at an average price of $13.21, for a total value of $250,990.00. Following the sale, the executive vice president now owns 32,391 shares of the company’s stock, valued at approximately $427,885.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC’s website. Also, EVP Francis W. Korzekwinski sold 7,649 shares of Flushing Financial stock in a transaction dated Wednesday, February 28. The shares sold at an average price of $12.61, for a total value of $96,453.89. Following the completion of the transaction, the executive vice president now owns 73,493 shares of the company’s stock, valued at approximately $926,746.73. The explanation of this sale can be found here. Corporate insiders own 6.60% of the company’s shares.

Institutional inflow and outflow

Institutional investors and hedge funds have recently increased or decreased their stakes in the company. YHB Investment Advisors Inc. bought a new stake in shares of Flushing Financial worth $27,000 during the first quarter. Assenagon Asset Management SA increased its position in shares of Flushing Financial by 290.9% during the first quarter. Assenagon Asset Management SA now owns 114,404 shares of the bank’s stock valued at $1,443,000 after acquiring an additional 85,139 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Flushing Financial during the first quarter worth approximately $32,000. Mendon Capital Advisors Corp acquired a new stake in shares of Flushing Financial in the fourth quarter worth approximately $287,000. Finally, Quest Partners LLC bought a new position in Flushing Financial in the 4th quarter valued at approximately $307,000. Institutional investors and hedge funds own 67.10% of the company’s shares.

About Spoelen Financieel

(Get a free report)

Flushing Financial Corporation operates as the bank holding company for Flushing Bank and provides banking products and services primarily to consumers, businesses and government agencies. It offers various deposit products, including checking and savings accounts, money market accounts, non-interest-bearing current accounts, NOW accounts and certificates of deposit.

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