Flushing Financial (NASDAQ:FFIC) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Flushing Financial (NASDAQ:FFIC) from a sell rating to a hold rating in a research note published on Wednesday, June 26th, BidAskClub reports.

A number of other equities analysts have also recently commented on FFIC. ValuEngine upgraded WEX from a hold rating to a buy rating in a report on Thursday, June 13th. Gabelli restated a buy rating on shares of Flushing Financial in a research report on Thursday, May 2nd. Finally, Zacks Investment Research downgraded shares of Inflarx from a buy rating to a hold rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $27.17.

FFIC stock traded up $0.25 during trading hours on Wednesday, reaching $22.32. 29,249 shares of the stock were exchanged, compared to its average volume of 50,288. The company has a market cap of $620.96 million, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 3.18 and a beta of 0.87. The firm’s 50-day simple moving average is $21.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.11 and a current ratio of 1.11. Flushing Financial has a 12 month low of $20.27 and a 12 month high of $27.32.

Flushing Financial (NASDAQ:FFIC) last announced its quarterly earnings data on Tuesday, April 30th. The bank reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.06). Flushing Financial had a net margin of 18.51% and a return on equity of 9.93%. The company had revenue of $42.75 million during the quarter, compared to the consensus estimate of $43.70 million. Equities analysts expect that Flushing Financial will post 1.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.84 annualized dividend and a dividend yield of 3.76%. Flushing Financial’s dividend payout ratio is currently 43.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in FFIC. Rhumbline Advisers boosted its stake in Flushing Financial by 31.6% during the 4th quarter. Rhumbline Advisers now owns 52,131 shares of the bank’s stock worth $1,122,000 after purchasing an additional 12,525 shares during the last quarter. Boston Partners boosted its stake in Flushing Financial by 2.0% during the 4th quarter. Boston Partners now owns 109,535 shares of the bank’s stock worth $2,358,000 after purchasing an additional 2,150 shares during the last quarter. BlackRock Inc. boosted its stake in Flushing Financial by 2.5% during the 4th quarter. BlackRock Inc. now owns 2,119,214 shares of the bank’s stock worth $45,628,000 after purchasing an additional 50,896 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Flushing Financial by 5.6% during the 4th quarter. Bank of New York Mellon Corp now owns 221,570 shares of the bank’s stock worth $4,770,000 after purchasing an additional 11,846 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in Flushing Financial during the 4th quarter worth $172,000. Hedge funds and other institutional investors own 77.01% 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, demand accounts, NOW accounts, and certificates of deposit.

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