Flushing Financial (NASDAQ:FFIC) Price Target Raised to $15.00 at Keefe, Bruyette & Woods

Flushing Financial (NASDAQ:FFIC) had its price objective upped by Keefe, Bruyette & Woods from $13.00 to $15.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

A number of other equities research analysts have also commented on the company. Raymond James raised their price target on Flushing Financial from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Piper Sandler lowered Flushing Financial from an overweight rating to a neutral rating and raised their price target for the stock from $15.00 to $16.50 in a report on Tuesday, July 30th. Finally, StockNews.com lowered Flushing Financial from a hold rating to a sell rating in a research report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Flushing Financial has an average rating of Hold and a consensus target price of $15.50.

Flushing Financial Trading Down 5.5 %

FFIC traded down $0.74 on Thursday, reaching $12.80. 184,349 shares of the company’s stock were exchanged, compared to its average volume of 188,727. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.97 and a current ratio of 0.97. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The company’s 50 day moving average is $13.39 and its 200-day moving average is $13.11. The company has a market cap of $372.08 million, a price-to-earnings ratio of 13.54 and a beta of 0.77.

Flushing Financial (NASDAQ:FFIC) last issued its quarterly earnings results on Monday, July 29th. The bank reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. Flushing Financial had a return on equity of 3.96% and a net margin of 5.84%. The company had revenue of $117.45 million for the quarter, compared to analyst estimates of $46.96 million. During the same period last year, the company earned $0.26 earnings per share. Equities analysts predict that Flushing Financial will post 0.73 earnings per share for the current year.

Flushing Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Monday, June 10th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend was Friday, June 7th. Flushing Financial’s dividend payout ratio is currently 88.00%.

Institutional Investors Weigh In On Flushing Financial

Several institutional investors and hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new position in shares of Flushing Financial during the 1st quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Flushing Financial in the 1st quarter valued at approximately $32,000. EntryPoint Capital LLC acquired a new stake in shares of Flushing Financial during the 1st quarter valued at $35,000. CWM LLC increased its stake in shares of 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 purchasing an additional 2,575 shares during the last quarter. Finally, Princeton Capital Management LLC bought a new stake in Flushing Financial during the 2nd quarter valued at approximately $145,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.

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.