Flushing Financial (NASDAQ:FFIC) Downgraded by StockNews.com

StockNews.com downgraded shares of Flushing Financial (NASDAQ:FFICFree Report) from a hold rating to a sell rating in a report published on Monday.

Separately, Keefe, Bruyette & Woods lowered their price objective on Flushing Financial from $14.00 to $13.00 and set a market perform rating for the company in a research note on Friday, April 26th.

Get Our Latest Analysis on Flushing Financial

Flushing Financial Trading Up 3.4 %

NASDAQ FFIC opened at $13.16 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.00. Flushing Financial has a twelve month low of $10.74 and a twelve month high of $18.00. The firm has a market capitalization of $382.56 million, a PE ratio of 13.16 and a beta of 0.77. The stock’s 50 day moving average is $12.56 and its 200 day moving average is $13.28.

Flushing Financial (NASDAQ:FFICGet Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $112.58 million for the quarter, compared to the consensus estimate of $47.12 million. Flushing Financial had a net margin of 6.81% and a return on equity of 4.31%. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Research analysts forecast that Flushing Financial will post 0.74 earnings per share for the current fiscal year.

Flushing Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend was Friday, June 7th. Flushing Financial’s dividend payout ratio is currently 88.00%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. CWM LLC raised its stake in shares of Flushing Financial by 87.0% in the second 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. Price T Rowe Associates Inc. MD raised its stake in shares of Flushing Financial by 14.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 59,419 shares of the bank’s stock worth $750,000 after purchasing an additional 7,672 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Flushing Financial in the first quarter worth $385,000. Gamco Investors INC. ET AL raised its stake in shares of Flushing Financial by 0.9% in the first quarter. Gamco Investors INC. ET AL now owns 1,209,250 shares of the bank’s stock worth $15,249,000 after purchasing an additional 11,285 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Flushing Financial in the first quarter worth $35,000. Hedge funds and other institutional investors own 67.10% of the company’s stock.

Flushing Financial Company Profile

(Get Free Report)

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.

Further Reading

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