Flushing Financial (NASDAQ:FFIC) Rating Increased to Hold at StockNews.com

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

A number of other equities research analysts also recently issued reports on the stock. Piper Sandler downgraded shares of Flushing Financial from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $15.00 to $16.50 in a research report on Tuesday, July 30th. Raymond James boosted their target price on Flushing Financial from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on Flushing Financial from $13.00 to $15.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Flushing Financial has an average rating of “Hold” and a consensus price target of $15.50.

Flushing Financial Stock Up 1.9 %

NASDAQ FFIC traded up $0.32 during trading on Thursday, reaching $17.40. 33,115 shares of the company’s stock were exchanged, compared to its average volume of 181,720. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. Flushing Financial has a fifty-two week low of $10.74 and a fifty-two week high of $18.19. The company’s fifty day simple moving average is $14.73 and its 200-day simple moving average is $13.68. The firm has a market capitalization of $505.82 million, a PE ratio of 19.63 and a beta of 0.75.

Flushing Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 6th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.88 annualized dividend and a dividend yield of 5.06%. Flushing Financial’s dividend payout ratio (DPR) is presently 101.15%.

Insider Activity

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

Institutional Trading of Flushing Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FFIC. Nisa Investment Advisors LLC grew its stake in shares of Flushing Financial by 4,000.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,050 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,000 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Flushing Financial in the first quarter valued at $32,000. EntryPoint Capital LLC acquired a new position in Flushing Financial during the first quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Flushing Financial during the second quarter valued at $61,000. Finally, CWM LLC boosted its stake in shares of Flushing Financial by 87.0% in the 2nd quarter. CWM LLC now owns 5,534 shares of the bank’s stock valued at $73,000 after purchasing an additional 2,575 shares in the last quarter. Institutional investors own 67.10% of the company’s stock.

About Flushing Financial

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.